Finance for Development
Latin America in Comparative Perspective
AUTHOR: Stallings, Barbara
PUBLISHER: Brookings Institution Press
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Access to finance is critical insetting the course for development in emerging market economies. In this innovative study,which provides the first book-length analysis of the Latin American financial sector,Barbara Stallings and Rogerio Studart examine the dramatic changes resulting from financialliberalization in the region. The authors begin by discussing the critical transformationstaking place in Latin America since 1990 -a period marked by acceleration toward a new open,market-oriented development model, and away from a semi-closed model relying heavily on thestate. Stallings and Studart examine changes in ownership of the financial sector andgovernment regulation of banking, evaluate the role of capital markets as a source offinance, and compare Latin America's financial sector to that of East Asia. The secondsection of the book features case studies that demonstrate the changes occurring in Chile,Mexico, and Brazil with particular reference to finance for investment and access to credit.The authors conclude with a set of policy recommendations aimed at strengthening LatinAmerican banks and capital markets so that they can play a greater role in supportingeconomic development.
PUBLICATION DATE: 3/8/2006
CATEGORY: Business & Economics