Financial Development in Latin America and the Caribbean

However, the current juncture provides a unique tapestry upon which this book examines several key questions and challenges looking forward. Does LAC continue to underperform on some key financial development indicators and, if so, why?

Author: Augusto de la Torre

Publisher: World Bank Publications

ISBN: 9780821388471

Category: Business & Economics

Page: 256

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The financial systems of Latin America and the Caribbean (LAC) have been widely resilient to the global financial crisis, which reflects strong progress in both macroeconomic management and prudential oversight. However, the current juncture provides a unique tapestry upon which this book examines several key questions and challenges looking forward. Does LAC continue to underperform on some key financial development indicators and, if so, why? How can LAC's financial systems contribute more effectively to the region's welfare and growth? How can LAC secure the benefits of deepening financial development while avoiding the fault lines that recently burst to the surface in other parts of the world?
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Financial Development and Inclusion in the Caribbean

Using available data, this paper takes stock of the current state of financial development and inclusion in the Caribbean region and, based on a quantitative general equilibrium model, examines potential trade-offs between growth, ...

Author: Chuan Li

Publisher: International Monetary Fund

ISBN: 9781484347744

Category: Business & Economics

Page: 24

View: 287

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Many Caribbean financial systems are relatively well developed for their size but benefits are concentrated in a small part of the population. In several large countries, the financial development levels are below what is warranted by that country’s own macroeconomic fundamentals. SMEs, in particular, remain severely credit constrained, and data to inform better analysis remains scarce. Using available data, this paper takes stock of the current state of financial development and inclusion in the Caribbean region and, based on a quantitative general equilibrium model, examines potential trade-offs between growth, inequality, and financial stability—all critical considerations when policies are designed. A case study for Jamaica is examined in detail.
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Advancing Financial Development in Latin America and the Caribbean

I. INTRODUCTION Growth has slowed in Latin America and the Caribbean (LAC), and the region's mediumterm growth prospects have been marked down. Even during the most recent commodity super-cycle, LAC's growth performance improved ...

Author: Dyna Heng

Publisher: International Monetary Fund

ISBN: 9781484321713

Category: Business & Economics

Page: 32

View: 102

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This paper examines the state of financial development in the Latin America and Caribbean (LAC) region as well as potential growth and stability implications from further development. The analysis suggests that access to financial institutions has expanded notably in the past decade, and the region compares favorably with other emerging market regions on this dimension. The region, however, continues to lag behind peers on broader financial development, especially with respect to markets, though there is substantial heterogeneity across countries. Financial systems in many LAC countries are also underdeveloped relative to their macroeconomic fundamentals. Further financial development could convey net benefits to the region, provided there is adequate regulatory oversight to prevent excesses.
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Financial Development in Latin America and the Caribbean

“The New Face of Latin America and the Caribbean: Globalized, Resilient, Dynamic.” Informe Reunión Anual Banco Mundial. Washington, DC. de la Torre, A., E. Feyen, y A. IZe. 2011. “Benchmarking LAC's Financial Development,” LAC Finance ...

Author: Augusto de la Torre

Publisher: World Bank Publications

ISBN: 9780821389362

Category: Business & Economics

Page: 274

View: 495

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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.
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Beyond Commodities

Beyond Commodities shows that Latin America and the Caribbean’s growth performance over the last decade cannot be reduced to the commodity boom: growth-promoting reforms that strengthened financial development, increased trade openness ...

Author: Jorge Thompson Araujo

Publisher: World Bank Publications

ISBN: 9781464806599

Category: Business & Economics

Page: 188

View: 426

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Beyond Commodities shows that Latin America and the Caribbean’s growth performance over the last decade cannot be reduced to the commodity boom: growth-promoting reforms that strengthened financial development, increased trade openness and improved infrastructure development also played a significant role and can continue doing so. Based on the econometric analysis of panel data from the 1970-2010 period for 126 countries, the study shows that, while the commodity boom facilitated growth in most of the region, it did not determine it. Domestic pro-growth policies and the maintenance of a sound macro-fiscal framework played a central role in explaining the region’s good performance during last decade. It also shows that new growth “stars†? such as Panama, Peru, Colombia and the Dominican Republic emerged during this period. In addition, a benchmarking exercise reveals which policy gaps will lead to the highest potential growth-payoffs for each country and helps identify potential trade-offs. Finally, with the worsening of external conditions, the authors conclude that the countries of Latin America and the Caribbean have no choice but to turn their attention to domestic drivers to keep growth going, as the structural reforms agenda remains unfinished.
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Government at a Glance Latin America and the Caribbean 2014 Towards Innovative Public Financial Management

Latin American and Caribbean Government at a Glance offers a dashboard of more than 30 indicators to help decision makers and citizens analyze and benchmark government performance both within the LAC region and compared to the OECD ...

Author: OECD

Publisher: OECD Publishing

ISBN: 9789264209480

Category:

Page: 148

View: 208

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Latin American and Caribbean Government at a Glance offers a dashboard of more than 30 indicators to help decision makers and citizens analyze and benchmark government performance both within the LAC region and compared to the OECD countries.
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Accounting for Growth in Latin America and the Caribbean

Accounting for Growth in Latin America and the Caribbean examines financial reporting and auditing in the LAC region in an effort to distill lessons learned and suggest priorities for accounting and auditing reform in the region.

Author: Henri Fortin

Publisher: World Bank Publications

ISBN: 0821381083

Category: Business & Economics

Page: 164

View: 813

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Accounting for Growth in Latin America and the Caribbean examines financial reporting and auditing in the LAC region in an effort to distill lessons learned and suggest priorities for accounting and auditing reform in the region.
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Fintech and Financial Inclusion in Latin America and the Caribbean

Despite some improvement since 2011, Latin America and the Caribbean continue to lag behind other regions in terms of financial inclusion.

Author: Mr. Dmitry Gershenson

Publisher: International Monetary Fund

ISBN: 9781513592237

Category: Business & Economics

Page: 76

View: 996

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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.
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