|
Showing 1 - 10 of
10 matches in All Departments
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.
Interest in access to finance and awareness of its importance have
increased significantly since the early 2000s. Growing evidence
suggests that lack of access to credit prevents many households and
firms from financing high-return investment projects, which has an
adverse effect on growth and poverty alleviation. Despite the
increasing awareness of the importance of access to finance among
both researchers and policymakers, there are still some major gaps
in our understanding of the main drivers of access, as well as
about the impact of different policies in this area. This book aims
to fill some of these gaps by discussing recent innovative
experiences in broadening access to credit in Latin America. These
experiences are consistent with an emerging new view that, while
recognizing the central role of the public sector in improving the
contractual and informational environment for financial markets,
contends that there might be room for well-designed, restricted
interventions in collaboration with the private sector to foster
the development of financial markets and broaden access to them.
The book analyzes some interesting experiences from Brazil, Chile,
Colombia, and Mexico, most of which have led to financial
innovation by developing new financial products and coordinating
different players in the financial and real sectors to overcome
barriers to access to credit. The book provides an analytical
framework to understand problems of access to finance and a
discussion of the effects and optimal design of public
interventions. It also discusses some open policy questions about
the role of the private and public sectors in broadening access to
finance in a sustainable and market-friendly manner.
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.
The world economy is not what it used to be twenty years ago. For
most of the 20th century, the world economy was characterized by
developed (North) countries acting as 'center' to a 'periphery' of
developing (South) countries. However, the recent rise of
developing economies suggests the need to go beyond this
North-South dichotomy. This tectonic re-configuration of the global
landscape has brought about significant changes to countries in the
Latin America and Caribean (LAC) region. The time is ripe for an
in-depth analysis of the dynamics and nature of LAC's external
connections.This latest volume in the World Bank Latin American and
Caribbean Studies series will focus on the implications of these
trends for the economic development of LAC countries. In
particular, trade, financial, macroeconomic, and sectoral shifts,
as well as labor-market aspects will be systematically analyzed.
This is the Spanish edition.
The world economy is not what it used to be twenty years ago. For
most of the 20th century, the world economy was characterized by
developed (North) countries acting as center to a periphery of
developing (South) countries. However, the recent rise of
developing economies suggests the need to go beyond this
North-South dichotomy. This tectonic re-configuration of the global
landscape has brought about significant changes to countries in the
Latin America and Caribean (LAC) region. The time is ripe for an
in-depth analysis of the dynamics and nature of LAC s external
connections. This latest volume in the World Bank Latin American
and Caribbean Studies series will focus on the implications of
these trends for the economic development of LAC countries. In
particular, trade, financial, macroeconomic, and sectoral shifts,
as well as labor-market aspects will be systematically analyzed."
During the 1980s and 1990s, financial sectors were the Achilles
heel of economic development in Latin America and the Caribbean
(LAC). Since then, these sectors have grown and deepened, becoming
more integrated and competitive, with new actors, markets, and
instruments springing up and financial inclusion broadening. To
crown these achievements, the region s financial systems were left
largely unscathed by the global financial crisis of 2008 09. Now
that the successes of LAC s macrofinancial stability are widely
recognized and tested, it is high time for an in-depth stocktaking
of what remains to be done. Financial Development in Latin America
and the Caribbean: The Road Ahead provides both a stocktaking and a
forward-looking assessment of the region s financial development.
Rather than going into detail about sector-specific issues, the
report focuses on the main architectural issues, overall
perspectives, and interconnections. The report s value added thus
hinges on its holistic view of the development process, its broad
coverage of the financial services industry beyond banking, its
emphasis on benchmarking, its systemic perspective, and its
explicit effort to incorporate the lessons from the recent global
financial crisis. Financial Development in Latin America and the
Caribbean: The Road Ahead builds on and complements several
overview studies on financial development in both LAC countries and
the developing world that were published in the past decade. It
will be of interest to policy makers and financial analysts
interested in improving the financial sector in the LAC region."
Policy makers in many countries in the Latin American and Caribbean
region have found it challenging to determine how to treat natural
resource commodity production and how to manage the recurrent
cycles of booms and busts. 'Natural Resources in Latin America and
the Caribbean: Beyond Booms and Busts?' addresses the major
concerns associated with commodity dependence, summarizing the
state of the art in existing literature and filling in the
knowledge gaps with new analysis. The report finds that some
commonly accepted negative effects of dependence on natural
resources are largely myths, while some are realities. But the
authors find that all the effects can be managed, and they provide
practical advice on how to do so. Issues covered include long-term
fiscal growth, fiscal volatility, institutional impacts, and
environmental and social effects. The report analyzes the
implications for the region s development and policies. 'Natural
Resources in Latin America and the Caribbean: Beyond Booms and
Busts?' will be of interest to policy makers, academics, and
analysts, as well as others interested in the economics of
commodity markets and their role in economic development."
Existe un consenso creciente en la comunidad cientifica de que el
calentamiento global es una amenaza real y presente. Aunque aun hay
una gran incertidumbre sobre la velocidad, magnitud e inclusive
sobre la direccion de los cambios climaticos futuros, hay
evidencias de que sus impactos fisicos y economicos seran
regionalmente diferenciados. Se sabe ademas que los paises en
desarrollo y las poblaciones de menores niveles de ingresos
presentan un mayor grado de vulnerabilidad. Por estas razones, es
fundamental que los paises de America Latina desarrollen sus
propias estrategias de adaptacion y participen activamente en los
esfuerzos internacionales para mitigar esta amenaza global.
'Desarrollo con Menos Carbono' intenta responder a una serie de
interrogantes sobre las causas y consecuencias del cambio climatico
en el caso de America Latina. ?Cuales son los impactos probables
del cambio climatico sobre los paises de America Latina y el
Caribe? ?Que paises, regiones y estratos socio-economicos podrian
ser los mas afectados? ?De que manera pueden los gobiernos de la
region incorporar el cambio climatico en sus politicas y programas?
?Que papel puede jugar America Latina en la mitigacion de un
fenomeno que es de naturaleza global? ?Como puede la comunidad
internacional mejor ayudar a America Latina a responder a estos
desafios? Aunque el estudio no aspira a ofrecer respuestas
definitivas para estas interrogantes, se espera que las
informaciones y analisis contenidos en el mismo permitan enriquecer
los debates sobre las politicas publicas mas adecuadas en esta area
cuya importancia para el desarrollo de la region es innegable.
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.
|
You may like...
Gloria
Sam Smith
CD
R407
Discovery Miles 4 070
|