Download or read book Cross Border Payments Integration in Latin America and the Caribbean written by Dimitris Drakopoulos and published by International Monetary Fund. This book was released on 2024-06-14 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cross-border payment inefficiencies are a significant barrier to trade both within Latin America and the Caribbean (LAC) and between LAC and other regions. This paper provides a comprehensive review of historical efforts undertaken by various countries within the LAC region to address these challenges. We also explore the potential of recent financial innovations, such as digital currencies and blockchain technology, to enhance cross-border payments. While new technologies do not substitute for prudent and credible macroeconomic policies, leveraging these technologies can help LAC countries reduce transaction costs and times, thus enhancing economic efficiency and fostering deeper regional and global trade relationships.
Download or read book Reforma Y Reestructuracion De Los Sistemas Pensiones written by and published by World Bank Publications. This book was released on 2007 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book extracts the main lessons and experiences of the Western Hemisphere Payments and Securities Clearance and Settlement Initiative (WHI), describing trends in payments and securities settlement systems worldwide and assessing Latin American and Caribbean systems in relation to international standards and best practices.--[book cover].
Download or read book Cluster Report written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2017-03-10 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This cluster report takes stock of and explores opportunities for trade integration in Latin America and the Caribbean (LAC). Drawing on a set of 12 analytical studies that will be issued as working papers, the report examines the determinants of trade, explores the potential to enhance LAC’s trade integration, and assesses the associated economic and social effects. To deepen understanding of the region’s policy options and trade strategies, the report also incorporates the views of LAC country authorities based on responses to a survey. This provides an opportunity to examine the alignment of recommendations based on the analytical findings with the region’s current trade policy priorities, with the caveat that the survey was conducted between late 2015 and mid-2016, prior to the most recent developments in the global trade landscape.
Download or read book Crypto Assets and CBDCs in Latin America and the Caribbean Opportunities and Risks written by Maximiliano Appendino and published by International Monetary Fund. This book was released on 2023-02-17 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: After providing a general overview of the nature, pros, and cons of crypto assets and CBDCs, this paper focuses on documenting their recent experience in LAC. The region records a high interest in unbacked crypto assets and stablecoins and its authorities’ policy responses have varied substantially, ranging from the introduction of Bitcoin as legal tender in El Salvador to their prohibition in many other countries worried about their impact on financial stability, currency/asset substitution, tax evasion, corruption, and money laundering. This paper also describes briefly the results of a survey on CBDCs’ introduction plans and crypto assets regulation. Finally, this paper presents some general lessons and policy recommendations for the region on the regulation of cypto assets, digital currencies and cross-border payments, and on the potential introduction of CBDCs.
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 Financial Integration in Latin America written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2016-04-03 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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...
Download or read book Practices and Initiatives for the Development of Cross border E commerce in Latin America and the Caribbean and Its Impact in the Post pandemic Era written by Bernardo Diaz de Astarloa and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Excerpt Financial Integration in Latin America written by Mr.Charles Enoch and published by International Monetary Fund. This book was released on 2016-09-27 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the scope and benefits from further regionalization of domestic financial services among Latin American countries. Following the financial crises in the 1980s and early 1990s, Latin Ameri¬can countries opened up their financial markets to foreign participation. This brought in North American and European banks, which were regarded as a source of capital, expertise, and know-how, as well as an opportunity for diversification from domestic shocks. Since the global financial crisis, Latin America has been facing a rapidly changing global financial landscape. Whereas global banks were previously seen as a source of strength, policymakers need to internalize that these banks could now represent a source of weakness for domestic financial systems. Moreover, the region is currently experiencing an important economic adjustment. Rebalancing of growth in China and the end of the commodity super-cycle is putting pressure on fiscal and external sectors in several Latin American economies.
Download or read book Connecting the Dots written by Mauricio Mesquita Moreira and published by Inter-American Development Bank. This book was released on 2018-05-29 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: What can be said of Latin America and the Caribbean's experiment with regional integration? Did it live up to the expectations? What does this experience say about the regional integration agenda moving forward? Do the tectonic changes undergone by the world economy in the last quarter of a century matter for policy design? This report offers answers to these pressing questions. It argues that while the "new regionalism" was in general effective to promote international trade, it failed to boost the region's competitiveness abroad. Fragmentation is seen as the original sin, and convergence the path to redemption. The policy recommendations offer different routes to convergence, from a cautious, cumulation of rules or origin approach to a non-stop sprint to a LAC-FTA. But they all come with a warning: in the current challenging trade environment, the benefits of caution might be too little, too late.
Download or read book International Economic Relations and Regional Co operation in Latin America and the Caribbean written by United Nations. Economic Commission for Latin America and the Caribbean. International Trade and Development Division and published by Santiago, Chile : Economic Commission for Latin America and the Caribbean, United Nations. This book was released on 1987 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Open Regionalism in Latin America and the Caribbean written by United Nations. Economic Commission for Latin America and the Caribbean and published by Santiago, Chile : United Nations, Economic Commission for Latin America and the Caribbean. This book was released on 1994 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: "An attempt to answer some general and specific questions regarding regional integration, such as: Why should integration be encouraged? What kind of integration should be encouraged? Which mechanisms and instruments are most suitable for integrating economies at this point? How do the new integration plans differ from those of the 1960s and 1970s? The answers to these and other questions 'are based on the core premise that recent integration efforts have generally involved the interaction of two types of phenomena:' trade liberalization and deregulation policies introduced at the national level; and explicit agreements or policies which entail certain preferences with respect to the treatment accorded other nations"--Handbook of Latin American Studies, v. 57
Download or read book Regional Integration written by Altaf Gauhar and published by . This book was released on 1985 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Fintech in Latin America and the Caribbean Stocktaking written by Pelin Berkmen and published by International Monetary Fund. This book was released on 2019-03-26 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Latin America and the Caribbean (LAC), financial technology has been growing rapidly and is on the agenda of many policy makers. Fintech provides opportunities to deepen financial development, competition, innovation, and inclusion in the region but also creates new and only partially understood risks to consumers and the financial system. This paper documents the evolution of fintech in LAC. In particular, the paper focuses on financial development, fintech landscape for domestic and cross border payments and alternative financing, cybersecurity, financial integrity and stability risks, regulatory responses, and considerations for central bank digital currencies.
Download or read book Out of the Border Labyrinth written by Christian Volpe Martincus and published by Inter-American Development Bank. This book was released on 2016-12-12 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real borders can be thick. They are not dimensionless lines as typically assumed in theoretical models and standard empirical analyses, but a zone populated by agencies that develop and administer regulations firms have to comply with when engaging in international trade, many of which have their own procedures. Borders can then easily become a labyrinth hard to get through. This is crucial because border agencies' procedures influence the time needed to ship goods from their origins to their destinations and can thereby affect trade, particularly in a context characterized by increasingly segmented production chains and rising lean retailing. Latin American and Caribbean countries have recently implemented various trade facilitation initiatives that aim to streamline the administrative processing of trade flows and accordingly reduce trading times. These initiatives include risk management, single windows, authorized economic operators, simplified postal exports, and expedited transit arrangements, all of which are cornerstones of the 2013 WTO Agreement on Trade Facilitation and have been subject of multiple international organizations' operations. Despite of being ubiquitous, evidence on the impact of these specific initiatives has been extremely limited. Lack of precise data has been a major obstacle. Out of the Border Labyrinth fills this gap and sheds entirely new light on the trade effects of such trade facilitation measures and the channels thereof. It presents the results of thorough impact evaluations, which have been carried out by applying rigorous methods on unprecedented transaction-level data for several countries in the region. These results reveal that trade actually expanded as a consequence of such facilitation measures and that the primary channel has been shipping frequency. Based on these econometric examinations and careful institutional case studies, Out of the Border Labyrinth systematizes a new line of trade policy research and informs policymaking and assistance activities by international organizations by providing tools that will help design and assess policies in an area that will be very active in upcoming years as countries work towards implementing the multilateral agreement reached in Bali.
Download or read book Liberalizing Trade in Financial Services in Latin America and the Caribbean written by Jennifer M. Lester and published by . This book was released on 1993 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Growth of ECommerce and Cross border Payments During Covid 19 Pandemic and the Cost driven Challenges of Implementing Payment Solutions by International Corporations in Latin America written by Olga Belogolovykh and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last couple of years the world has experienced not only a Covid-19 outbreak, but also a remarkable boom in eCommerce, with a fundamental shift in the implementation of technologies and reduced use of cash. The consumers’ buying behavior was forced to change to online shopping, as a measure of social distancing, and international corporations had to shut down their physical stores and consider a new norm of doing business. Online transactions continue to expand and become an important part of the global economy, consequently, the capacity to accept payments online is crucial for companies. Of course, some industries who were doing business online in the pre Covid-19 period, such as videogaming, e-learning, certainly benefited from people staying at home, but others had to adjust their payment strategies and make a shift to digitalization. However, there are several challenges corporations can face when making such shift. First, consumer payment preferences differ significantly around the world, reflecting a variety of historical, technical, cultural, economic, and regulatory aspects. Second, cost-driven factors like cross-border remittance can be tricky once it comes to emerging countries in the Latin American region, especially when the losses might occur due to currency volatility. Another significant challenge is security. The more customers pay online with a variety of payment options, the more potential exposure to data breaches opens. Accordingly, and depending on the country, companies must invest in PCI DSS (Payment Card Industry Data Security Standard) compliance, 3D Secure, and fraud systems. Finally, the most important rule in cross-border eCommerce payments is to go global by going local, meaning to charge in local currency by establishing a local acquiring to boost the authorization and conversion rates. To this end, this thesis attempts to examine the potential implications of Covid-19 on eCommerce and cross-border payments, and the cost-driven challenges of implementing payment solutions by international corporations in Latin America.
