Download or read book The Restoration of Latin America s Access to Voluntary Capital Market Financing written by Mr.Mohamed A. El-Erian and published by International Monetary Fund. This book was released on 1991-08-01 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: After a prolonged and almost total reliance on debt restructurings and concerted new money facilities, several Latin American countries have, over the last two years, mobilized voluntary financing from international capital markets. Although the phenomenon is still relatively limited in terms of volume and number of borrowers, it has nevertheless attracted considerable attention. The paper reviews the nature, magnitude and terms of the market re-entry process and, by drawing upon recent country experiences, analyzes the factors that have facilitated it. This provides the basis for a discussion of the key elements affecting the short-term prospects for Latin American private and public sector voluntary debt and equity financing from international capital markets.
Download or read book Emerging Capital Markets and Globalization written by Augusto de la Torre and published by World Bank Publications. This book was released on 2006-10-20 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.
Download or read book The Restoration of Latin America s Access to Voluntary Capital Market Financing written by Mohamed A. El-Erian and published by . This book was released on 2006 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: After a prolonged and almost total reliance on debt restructurings and concerted new money facilities, several Latin American countries have, over the last two years, mobilized voluntary financing from international capital markets. Although the phenomenon is still relatively limited in terms of volume and number of borrowers, it has nevertheless attracted considerable attention. The paper reviews the nature, magnitude and terms of the market re-entry process and, by drawing upon recent country experiences, analyzes the factors that have facilitated it. This provides the basis for a discussion of the key elements affecting the short-term prospects for Latin American private and public sector voluntary debt and equity financing from international capital markets.
Download or read book Central Banking in Latin America written by Mr.Luis Ignacio Jácome and published by International Monetary Fund. This book was released on 2015-03-17 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a brief historical journey of central banking in Latin America to shed light on the debate about monetary policy in the post-global financial crisis period. The paper distinguishes three periods in Latin America’s central bank history: the early years, when central banks endorsed the gold standard and coped with the collapse of this monetary system; a second period, in which central banks turned into development banks under the aegis of governments at the expense of increasing inflation; and the “golden years,” when central banks succeeded in preserving price stability in an environment of political independence. The paper concludes by cautioning against overburdening central banks in Latin America with multiple mandates as this could end up undermining their hard-won monetary policy credibility.
Download or read book Latin America s Cold War written by Hal Brands and published by Harvard University Press. This book was released on 2012-03-05 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: For Latin America, the Cold War was anything but cold. Nor was it the so-called “long peace” afforded the world’s superpowers by their nuclear standoff. In this book, the first to take an international perspective on the postwar decades in the region, Hal Brands sets out to explain what exactly happened in Latin America during the Cold War, and why it was so traumatic. Tracing the tumultuous course of regional affairs from the late 1940s through the early 1990s, Latin America’s Cold War delves into the myriad crises and turning points of the period—the Cuban revolution and its aftermath; the recurring cycles of insurgency and counter-insurgency; the emergence of currents like the National Security Doctrine, liberation theology, and dependency theory; the rise and demise of a hemispheric diplomatic challenge to U.S. hegemony in the 1970s; the conflagration that engulfed Central America from the Nicaraguan revolution onward; and the democratic and economic reforms of the 1980s. Most important, the book chronicles these events in a way that is both multinational and multilayered, weaving the experiences of a diverse cast of characters into an understanding of how global, regional, and local influences interacted to shape Cold War crises in Latin America. Ultimately, Brands exposes Latin America’s Cold War as not a single conflict, but rather a series of overlapping political, social, geostrategic, and ideological struggles whose repercussions can be felt to this day.
Download or read book IMF Working Paper written by and published by . This book was released on 1995 with total page 542 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The State of State Reforms in Latin America written by Eduardo Lora and published by World Bank Publications. This book was released on 2006-10-23 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: Latin America suffered a profound state crisis in the 1980s, which prompted not only the wave of macroeconomic and deregulation reforms known as the Washington Consensus, but also a wide variety of institutional or 'second generation' reforms. 'The State of State Reform in Latin America' reviews and assesses the outcomes of these less studied institutional reforms. This book examines four major areas of institutional reform: a. political institutions and the state organization; b. fiscal institutions, such as budget, tax and decentralization institutions; c. public institutions in charge of sectoral economic policies (financial, industrial, and infrastructure); and d. social sector institutions (pensions, social protection, and education). In each of these areas, the authors summarize the reform objectives, describe and measure their scope, assess the main outcomes, and identify the obstacles for implementation, especially those of an institutional nature.
Download or read book Making the Unipolar Moment written by Hal Brands and published by Cornell University Press. This book was released on 2016-05-19 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the late 1970s, the United States often seemed to be a superpower in decline. Battered by crises and setbacks around the globe, its post–World War II international leadership appeared to be draining steadily away. Yet just over a decade later, by the early 1990s, America's global primacy had been reasserted in dramatic fashion. The Cold War had ended with Washington and its allies triumphant; democracy and free markets were spreading like never before. The United States was now enjoying its "unipolar moment"—an era in which Washington faced no near-term rivals for global power and influence, and one in which the defining feature of international politics was American dominance. How did this remarkable turnaround occur, and what role did U.S. foreign policy play in causing it? In this important book, Hal Brands uses recently declassified archival materials to tell the story of American resurgence. Brands weaves together the key threads of global change and U.S. policy from the late 1970s through the early 1990s, examining the Cold War struggle with Moscow, the rise of a more integrated and globalized world economy, the rapid advance of human rights and democracy, and the emergence of new global challenges like Islamic extremism and international terrorism. Brands reveals how deep structural changes in the international system interacted with strategies pursued by Jimmy Carter, Ronald Reagan, and George H. W. Bush to usher in an era of reinvigorated and in many ways unprecedented American primacy. Making the Unipolar Moment provides an indispensable account of how the post–Cold War order that we still inhabit came to be.
Download or read book Crisis and Reform in Latin America written by Sebastian Edwards and published by World Bank Publications. This book was released on 1995 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work provides a thorough analytical review of the processes that led to the transformation of many Latin American economies during the last decade. The author examines every aspect of adjustment and reform since 1980 and suggests alternative ways to consolidate the achievements.
Download or read book Globalization and Development written by José Antonio Ocampo and published by Stanford University Press. This book was released on 2003 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization and Development draws upon the experiences of the Latin American and Caribbean region to provide a multidimensional assessment of the globalization process from the perspective of developing countries. Based on a study by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), this book gives a historical overview of economic development in the region and presents both an economic and noneconomic agenda that addresses disparity, respects diversity, and fosters complementarity among regional, national, and international institutions. For orders originating outside of North America, please visit the World Bank website for a list of distributors and geographic discounts at http://publications.worldbank.org/howtoorder or e-mail [email protected].
Download or read book Economic Reforms in Latin America written by Hermann Sautter and published by . This book was released on 1993 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mexico s External Debt and the Return to Voluntary Capital Market Financing written by Mohamed A. El-Erian and published by . This book was released on 1991 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book IMF Staff papers Volume 39 No 1 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1992-01-01 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on exchange rate economics. Two main views of exchange rate determination have evolved since the early 1970s: the monetary approach to the exchange rate (in flexible-price, sticky-price, and real interest differential formulations); and the portfolio balance approach. In this paper, the literature on these views is surveyed, followed by a discussion of the empirical evidence and likely future developments in the area of exchange rate determination. The literature on foreign exchange market efficiency, exchange rates and “news,” and international parity conditions is also reviewed.
Download or read book Stanford Journal of International Law written by and published by . This book was released on 1994 with total page 1124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fintech and Financial Inclusion in Latin America and the Caribbean written by Mr. Dmitry Gershenson and published by International Monetary Fund. This book was released on 2021-08-20 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite some improvement since 2011, Latin America and the Caribbean continue to lag behind other regions in terms of financial inclusion. There is no clear evidence that fintech developments have supported greater financial inclusion in LAC, contrary to what has been observed elsewhere in the world. Case studies by national policy experts suggest that barriers to entry in the financial sector, along with a constraining regulatory environment, may have hindered a faster adoption of fintech. However, fintech development seems to have accelerated in the wake of the COVID-19 pandemic and with the support of recent policy initiatives.
Download or read book Endogenous Creditor Seniority and External Debt Values written by Mr.Mark R. Stone and published by International Monetary Fund. This book was released on 1992-07-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new aggregation scheme used to measure the sources of fiscal financing of indebted countries suggests that there was a fundamental improvement in the seniority of domestic debt at the expense of foreign bank debt during the late 1980s. We argue that this was the revenue maximizing response of governments to internal and external capital flight that drained the domestic financial “tax base” subject to indirect taxation. Empirical analysis indicates that the profile of the sources of fiscal financing influenced external debt values. The econometric analysis also implies that previous studies have neglected an important reason for the decline in loan values from 1985 to 1989: the increase in international interest rates.
Download or read book A Mandate to Grow written by Eduardo A. Cavallo and published by Inter-American Development Bank. This book was released on 2018-03-15 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2018 Macroeconomic Report, A Mandate to Grow, revisits the growth debate that has been raging in the region for the past half century. Viewing the debate from this long-term perspective allows for a focus on the structural factors that have prevented Latin America and the Caribbean from reaching the growth potential required to keep pace with faster growing regions and to fulfill the aspirations of its population.
