Excerpt Financial Integration In Latin America
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| Author | : Mr.Charles Enoch |
| Publisher | : International Monetary Fund |
| Total Pages | : 29 |
| Release | : 2016-09-27 |
| Genre | : Business & Economics |
| ISBN | : 1475541473 |
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.
| Author | : Mr. M. Cangiano |
| Publisher | : International Monetary Fund |
| Total Pages | : 468 |
| Release | : 2013-04-05 |
| Genre | : Business & Economics |
| ISBN | : 1475512198 |
The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. This book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. Not merely a handbook or manual describing practices in the field, the volume instead poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms. Watch Video of Book Launch
| Author | : Mr.Andrés Pérez |
| Publisher | : International Monetary Fund |
| Total Pages | : 52 |
| Release | : 2019-10-11 |
| Genre | : Business & Economics |
| ISBN | : 1513514024 |
This booklet summarizes the presentations in the conference titled “Enhancing Chile’s Fiscal Framework: Lessons from Domestic and International Experience,” organized by Chile’s Ministry of Finance and the International Monetary Fund in January of 2019. The conference’s objective was to explore challenges and possible opportunities to improve Chile’s fiscal framework, including the fiscal rule, by looking at the Chilean and international experience. The conference had the valuable participation of current and former senior policymakers from Chile, including former Ministers of Finance ranging across the political spectrum and central bank presidents, which provided an insightful perspective in areas for improvement in the realm of fiscal policy. These views were complemented by representatives from the IMF and the Inter-American Development Bank, academics, and country officials from New Zealand and Peru, which provided lessons from the international experience.
| Author | : Ms.Christine Lagarde |
| Publisher | : International Monetary Fund |
| Total Pages | : 16 |
| Release | : 2014-02-03 |
| Genre | : Business & Economics |
| ISBN | : 1513598600 |
This chapter presents the content of the Richard Dimbleby lecture, which has been delivered by an influential business or a political figure every year since 1972. Christine Lagarde, Managing Director of the IMF, delivered the 2014 lecture at Guildhall in London on February 3. The 44 nations gathering at Bretton Woods have been determined to set a new course based on the principle that peace and prosperity flow from the font of cooperation. Fundamentally, the new multilateralism needs to instil a broader sense of social responsibility on the part of all players in the modern global economy. A renewed commitment to openness and to the mutual benefits of trade and foreign investment is requested. It also requires collective responsibility for managing an international monetary system that has travelled light-years since the old Bretton Woods system. The collective responsibility would translate into all monetary institutions cooperating closely mindful of the potential impact of their policies on others.
| Author | : Peter B. Kenen |
| Publisher | : Cambridge University Press |
| Total Pages | : 199 |
| Release | : 2007-11-26 |
| Genre | : Business & Economics |
| ISBN | : 1139466038 |
This book surveys the prospects for regional monetary integration in various parts of the world. Beginning with a brief review of the theory of optimal currency areas, it goes on to examine the structure and functioning of the European Monetary Union, then turns to the prospects for monetary integration elsewhere in the world - North America, South America, and East Asia. Such cooperation may take the form of full-fledged monetary unions or looser forms of monetary cooperation. The book emphasizes the economic and institutional requirements for successful monetary integration, including the need for a single central bank in the case of a full-fledged monetary union, and the corresponding need for multinational institutions to safeguard its independence and assure its accountability. The book concludes with a chapter on the implications of monetary integration for the United States and the US dollar.
| Author | : Eduardo Lora |
| Publisher | : World Bank Publications |
| Total Pages | : 474 |
| Release | : 2006-10-23 |
| Genre | : Political Science |
| ISBN | : 0821365762 |
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.
| Author | : Rosemary Thorp |
| Publisher | : IDB |
| Total Pages | : 390 |
| Release | : 1998 |
| Genre | : Business & Economics |
| ISBN | : 9781886938359 |
A comprehensive Statistical Appendix provides regional and country-by-country data in such areas as GDP, manufacturing, sector productivity, prices, trade, income distribution and living standards."--BOOK JACKET.
| Author | : Takatoshi Ito |
| Publisher | : University of Chicago Press |
| Total Pages | : 416 |
| Release | : 2007-12-01 |
| Genre | : Business & Economics |
| ISBN | : 0226386953 |
The increased mobility and volume of international capital flows is a striking trend in international finance. While countries worldwide have engaged in financial deregulation, nowhere is this pattern more pronounced than in East Asia, where it has affected in unanticipated ways the behavior of exchange rates, interest rates, and capital flows. In these thirteen essays, American and Asian scholars analyze the effects of financial deregulation and integration on East Asian markets. Topics covered include the roles of the United States and Japan in trading with Asian countries, macroeconomic policy implications of export-led growth in Korea and Taiwan, the effects of foreign direct investment in China, and the impact of financial liberalization in Japan, Korea, and Singapore. Demonstrating the complexity of financial deregulation and the challenges it poses for policy makers, this volume provides an excellent picture of the overall status of East Asian financial markets for scholars in international finance and Asian economic development.
| Author | : Niko Vicario |
| Publisher | : University of California Press |
| Total Pages | : 309 |
| Release | : 2020-03-31 |
| Genre | : Art |
| ISBN | : 0520310020 |
Exploring art made in Latin America during the 1930s and 1940s, Hemispheric Integration argues that Latin America’s position within a global economic order was crucial to how art from that region was produced, collected, and understood. Niko Vicario analyzes art’s relation to shifting trade patterns, geopolitical realignments, and industrialization to suggest that it was in this specific era that the category of Latin American art developed its current definition. Focusing on artworks by iconic Latin American modernists such as David Alfaro Siqueiros, Joaquín Torres-García, Cândido Portinari, and Mario Carreño, Vicario emphasizes the materiality and mobility of art and their connection to commerce, namely the exchange of raw materials for manufactured goods from Europe and the United States. An exceptional examination of transnational culture, this book provides a new model for the study of Latin American art.
| Author | : Augusto de la Torre |
| Publisher | : World Bank Publications |
| Total Pages | : 232 |
| Release | : 2006-10-20 |
| Genre | : Business & Economics |
| ISBN | : 0821365444 |
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.
