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Bond Markets In Latin America [PDF Download]

Bond Markets in Latin America PDF
Author: Patrick Bolton
Publisher: MIT Press
Release Date: 2008
ISBN: 0262026325
Size: 35.28 MB
Format: PDF, Docs
Category : History
Languages : en
Pages : 305
View: 6118

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Developing local bond markets is high on the policy agenda of Latin America. This book's case studies of Argentina, Brazil Chile, Columbia, Mexico and Uruguay, written by country experts follow a common methodology, with each offering a history of that country's bond market development and data sets.

Public Debt Markets In Central America [PDF Download]

Public Debt Markets in Central America PDF
Author: Hemant Shah
Publisher:
Release Date: 2007
ISBN:
Size: 30.43 MB
Format: PDF, ePub
Category : Capital market
Languages : en
Pages : 150
View: 5536

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This paper-consisting of a regional study and seven country studies-reviews the state of domestic public debt markets in Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and Panama as at end-2005. Although they account for the lion's share of capital markets, regional public debt markets remain underdeveloped for a variety of reasons. The problems of small scale, dollarization, and weak public finances in many countries are compounded by poor structure and composition of debt (with sizeable nonstandard and non-tradable components), fragmentation of public debt between central banks and the sovereigns and across instruments, poor debt management practices, weaknesses in securities market, and small investor bases all of which result in high transaction costs and a lack of liquid benchmarks. The paper also briefly discusses efforts towards and impediments to regional integration of public debt markets. The authorities recognize these problems and the paper takes note of the regional efforts to harmonize debt standards and improve issuance practices. It offers several recommendations to improve strategic debt management, issuance mechanics, and secondary trading.

Capital Markets In Latin America [PDF Download]

Capital Markets in Latin America PDF
Author: Antonín Basch
Publisher: New York : Published for the Inter-American Development Bank [by] Praeger
Release Date: 1970
ISBN:
Size: 10.22 MB
Format: PDF, Mobi
Category : Capital
Languages : en
Pages : 163
View: 2451

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Latin American Financial Development In Perspective [PDF Download]

Latin American Financial Development in Perspective PDF
Author: Alicia García Herrero
Publisher:
Release Date: 2002
ISBN:
Size: 55.33 MB
Format: PDF, ePub, Docs
Category : Banks and banking
Languages : en
Pages : 75
View: 7261

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Se analiza el desarrollo del sector financiero en América latina.

Reforming Payments And Securities Settlement Systems In Latin America And The Caribbean [PDF Download]

Reforming Payments and Securities Settlement Systems in Latin America and the Caribbean PDF
Author: Massimo Cirasino
Publisher: World Bank Publications
Release Date: 2007
ISBN:
Size: 19.42 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 277
View: 5124

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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].

Capital Market Development [PDF Download]

Capital Market Development PDF
Author: Augusto de la Torre
Publisher:
Release Date: 2007
ISBN:
Size: 40.37 MB
Format: PDF, Mobi
Category : Bank Policy
Languages : en
Pages : 19
View: 872

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Over the past decades, many countries have implemented significant reforms to foster capital market development. Latin American countries were at the forefront of this process. The authors analyze where Latin American capital markets stand after these reforms. They find that despite the intense reform effort, capital markets in Latin America remain underdeveloped relative to markets in other regions. Furthermore, stock markets are below what can be expected, given Latin America's economic and institutional fundamentals. The authors discuss alternative ways of interpreting this evidence. They argue that it is difficult to pinpoint which policies Latin American countries should pursue to overcome their poor capital market development. Moreover, they argue that expectations about the outcome of the reform process may need to be revisited to take into account intrinsic characteristics of emerging economies. The latter may limit the scope for developing deep domestic capital markets in a context of international financial integration.

Building Stability In Latin American Financial Markets [PDF Download]

Building Stability in Latin American Financial Markets PDF
Author: Liliana Rojas-Suárez
Publisher:
Release Date: 1996
ISBN:
Size: 73.22 MB
Format: PDF, ePub, Docs
Category : Capital market
Languages : en
Pages : 29
View: 7669

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This paper argues that the investor reluctance to make long-term commitments to Latin American financial markets results from experience. In the 1980s, while ex ante real interest rates on Latin American financial assets were usually high, ex-post real interest rates were often highly negative. In the 1990s, policymakers instituted stabilization programs and structural reforms that have improved the environment in which financial markets operate. Based on a review of experiences in the region, this paper shows that, when these opportunities are taken, investor confidence in long-term markets is strengthened.

Transforming Green Bond Markets [PDF Download]

Transforming Green Bond Markets PDF
Author: Juan Antonio Ketterer
Publisher: Inter-American Development Bank
Release Date: 2019-09-27
ISBN:
Size: 59.12 MB
Format: PDF, ePub, Docs
Category : Technology & Engineering
Languages : en
Pages : 36
View: 6583

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Despite exhibiting remarkable growth, the green bond market still represents less than 1 percent of the global bond market. This paper identifies two challenges that might slow the adoption of green bonds and presents a menu of responses that policymakers, regulators, and public financial institutions can use to offset these challenges. Specifically, it explores two key dimensions: (i) the risk profile of the green bond instrument and (ii) the transaction costs associated with issuance of and reporting on green bonds. New approaches to risk design and technology-based approaches are essential to untap the potential of green bond markets, particularly in Latin America and the Caribbean and other developing regions. The incorporation of financial mechanisms such as covered bonds and guarantees can adequately address the risk of the issues, making the market more attractive for investors. Enhanced regulation and education and leveraging efficiencies of new technologies such as distributed ledger technologies can substantially reduce monitoring and reporting costs, while improving transparency in the use of proceeds and market integrity.

Emerging Capital Markets And Globalization [PDF Download]

Emerging Capital Markets and Globalization PDF
Author: Augusto de la Torre
Publisher: World Bank Publications
Release Date: 2006-10-20
ISBN: 9780821365441
Size: 63.64 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 228
View: 7452

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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.