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Financial Integration in Latin America

Author: Mr.Charles Enoch

Publisher: International Monetary Fund

Published: 2017-04-10

Total Pages: 226

ISBN-13: 1513520245

With growth slowing across much of the Latin America as a result of the end of the commodity supercycle and economic rebalancing in China, as well as fragmentation of the international banking system, policies to stimulate growth are needed. This book examines the financial landscapes of seven Latin American economies—Brazil, Chile, Colombia, Mexico, Panama, Peru, and Uruguay—and makes a case for them to pursue regional financial integration. Chapters set out the benefits to the region of financial integration, the barriers to cross-border activity in banks, insurance companies, pension funds, and capital markets, as well as recommendations to address these barriers. Finally, the volume makes the case that regional integration now could be a step toward global integration in the short term.

Financial Integration in Latin America

Author: International Monetary Fund. Western Hemisphere Dept.

Publisher: International Monetary Fund

Published: 2016-04-03

Total Pages: 198

ISBN-13: 1498345891

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Many Latin American economies have experienced significant reductions in growth recently, as a result of the end of the commodity super-cycle and the rebalancing of China’s growth, and a number of global banks have been leaving the region. AlthoughLatin American countries were generally less affected by the global financial crisis (GFC) than other regions, the region continues also to suffer from the protracted sluggish growth in advanced economies. In addition, there has since 2008 been a withdrawal of global banks from the region, thus potentially worsening access to credit or reducing competition in the financial sector. More broadly, the GFC demonstrated that extreme economic volatility can originate from outside the region, rather than internally, as was the experience of the 1980s and 1990s...

Benefits of Global and Regional Financial Integration in Latin America

Author: Luc Eyraud

Publisher: International Monetary Fund

Published: 2017-01-18

Total Pages: 32

ISBN-13: 1475568681

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The timing is ripe to pursue greater regional financial integration in Latin America given the withdrawal of some global banks from the region and the weakening of growth prospects. Important initiatives are ongoing to foster financial integration. Failure to capitalize on this would represent a significant missed opportunity. This paper examines the scope for further global and regional financial integration in Latin America, based on economic fundamentals and comparisons to other emerging regions, and quantifies the potential macroeconomic gains that such integration could bring. The analysis suggests that closing the financial integration gap could boost GDP growth be 1⁄4 - 3⁄4 percentage point in these countries, on average.

Regional Integration in Europe and Latin America

Author: Pierre van der Haegen

Publisher: Routledge

Published: 2019-10-28

Total Pages: 561

ISBN-13: 1351150464

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Originally published in 2004. This comprehensive collection provides an innovative analysis and a comparison between economic and financial integration in Europe and Latin America, addressed from a global, regional and country-specific perspective. It constitutes a valuable overview focusing on three topics: regional integration and monetary cooperation in Europe and Latin America, exchange rate strategies and financial sector structure. The collection is the outcome of a Workshop and high-level Seminar organized by the Banco de España and the European Central Bank that brought together senior European and Latin American central bankers, as well as senior representatives from international institutions. The 31 contributors presented high quality papers, allowing the reader to take advantage of a rigorous economic analysis that uses first-hand information and draws useful lessons for the future.

International Financial Integration and Funding Risks: Bank-Level Evidence from Latin America

Author: Mr.Luis Catão

Publisher: International Monetary Fund

Published: 2017-10-31

Total Pages: 42

ISBN-13: 1484324765

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Using a sample of over 700 banks in Latin America, we show that international financial liberalization lowers bank capital ratios and increases the shares of short-term funding. Following liberalization, large banks substitute interbank borrowing for equity and long-term funding, whereas small banks increase the proportions of retail funding in their liabilities, which have been particularly vulnerable to flight-to-quality during periods of financial distress in much of Latin America. We also find evidence that riskier bank funding in the aftermath of financial liberalizations is exacerbated by asymmetric information, which rises on geographical distance and the opacity of balance sheets.

Regional Integration in Europe and Latin America

Author: Pierre Louis Haegen

Publisher: Ashgate Publishing, Ltd.

Published: 2003

Total Pages: 548

ISBN-13:

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This comprehensive collection comprising 28 contributors provides an innovative comparison between economic and financial integration in Europe and Latin America. It is a valuable overview focusing on three topics: regional integration and monetary co-operation in Europe and Latin America, exchange rate strategies and financial sector structure.

Central America

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2006-05-09

Total Pages: 141

ISBN-13: 1589064925

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Intraregional financial activity in Central America has grown substantially in the past decade, contributing to efficiency and economic development. At the same time, the expansion of activities by regional conglomerates has increased the challenges to supervisory authorities of containing the risks of contagion. Prepared as part of the Central America Financial Sector Regional Project by an IMF and World Bank staff team, this book outlines trends in the region's financial sector integration, supervisory responses, development of the insurance sector, payment and securities settlement arrangements, and worker remittances. It addresses the many common policy challenges facing Central American countries--Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama--in financial sector reform. The book offers key policy recommendations.

Regional Integration

Author: Altaf Gauhar

Publisher:

Published: 1985

Total Pages: 312

ISBN-13:

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Economic Integration in Latin America

Author: F. John Mathis

Publisher:

Published: 1986-01-01

Total Pages:

ISBN-13: 9780877550761

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Financial Policies and the World Capital Market

Author: Pedro Aspe Armella

Publisher: University of Chicago Press

Published: 2009-05-15

Total Pages: 305

ISBN-13: 0226029972

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The essays brought together in this volume share a common objective: To bring a unifying methodological approach to the analysis of financial problems in developing, open economies. While the primary focus is on contemporary Latin America, the methods employed and the lessons learned are of wider applicability. The papers address the financial integration issue from three different perspectives. In some cases, a country study is the vehicle for an econometric investigation of a particular external linkage. In other cases, an individual country's experience suggests an economic model in which the stylized facts may be analyzed and developed. A third direction is unabashedly theoretical and formulates more general principles which are broadly applicable rather than country-specific.