Latin American Local Capital Markets
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Latin American Local Capital Markets Challenges And Solutions
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Author : Mauro Miranda
language : en
Publisher: CFA Institute Research Foundation
Release Date : 2018-06-15
Latin American Local Capital Markets Challenges And Solutions written by Mauro Miranda and has been published by CFA Institute Research Foundation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-15 with Business & Economics categories.
Capital markets, both for debt and equity securities, have allowed firms to secure funding for productive uses while providing investors with opportunities for portfolio diversification. The importance of capital markets for the development of economies and for the betterment of society cannot be overstated. This is just as true in emerging economies with free markets, such as those found in Latin America, as it is in developed markets. However, capital markets in the region are not being utilized to the fullest. The idea behind this collection of articles is to offer a primer on the development of local capital markets in several select countries in Latin America. We discuss not only their history and current status but also their future. To this end, seven authors contributed to this project, each writing about one of seven countries: Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Uruguay. Each author decided which issues they believe matter most to the progress of their local capital markets. Some authors chose a qualitative and institutional description of local markets, whereas others adopted a more quantitative approach.
Latin American Local Capital Markets
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Author :
language : en
Publisher:
Release Date : 2018
Latin American Local Capital Markets written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Capital market categories.
Focus On Capital
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Author : Kenroy Dowers
language : en
Publisher: IDB
Release Date : 2003
Focus On Capital written by Kenroy Dowers and has been published by IDB this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
Local capital market development responds to the need to reduce the risk of financial crises that result from an excessive reliance on external borrowing -- for example, to avoid foreign exchange risk, reduce contagion, and decrease short-term external borrowing. In fact, as financial crises dwarf the role of financial intermediation, the problems of asymmetric information become even more severe, leading to greater public mistrust of financial institutions. The contributors in Focus on Capital tackle various aspects of developing Latin American capital markets. Macroeconomic and structural policies, accounting practices and standards, bond market development, market infrastructure, derivatives markets, corporate governance, ethics, human capital, and regional integration all play a role. One of the shortcomings of many strategies for capital market development -- more important than getting the sequencing wrong -- is failing to understand the links between the various components and the need for an overall strategy as well as plans for each component. Focus on Capital analyzes the status of the markets in Latin America and identifies the technical, political, and financial challenges to building vibrant capital markets and increasing the efficiency benefits of regional economic and financial integration.
Emerging Capital Markets And Globalization
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Author : Augusto de la Torre
language : en
Publisher: World Bank Publications
Release Date : 2006-10-20
Emerging Capital Markets And Globalization written by Augusto de la Torre and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-10-20 with Business & Economics categories.
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.
Capital Markets In Latin America
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Author : Antonín Basch
language : en
Publisher: New York : Published for the Inter-American Development Bank [by] Praeger
Release Date : 1970
Capital Markets In Latin America written by Antonín Basch and has been published by New York : Published for the Inter-American Development Bank [by] Praeger this book supported file pdf, txt, epub, kindle and other format this book has been release on 1970 with Capital categories.
Comparison of the process of savings and investment in Latin American countries - examines the various types of financial aspects institutions (incl. Banks, stock exchanges, etc.) operating in the capital market, private sector financing and public finance, indicates some conditons that favour a more effective functioning of the capital markets in latin america, and includes 6 country reports (Argentina, Brazil, Colombia, Mexico, Peru and Venezuela). Bibliography pp. 159 to 163 and statistical tables.
Latin American Capital Markets
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Author : Joseph C. Hill
language : en
Publisher:
Release Date : 2004-01
Latin American Capital Markets written by Joseph C. Hill and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-01 with categories.
This work provides lawyers, investment bankers, & other professionals with an overview of the laws & regulations governing local capital markets in Argentina, Brazil, Chile, Colombia, Mexico, Peru, Uruguay & Venezuela. The securities market of each country is examined in Part I of each chapter. Local laws affecting the market, structure & authority of local regulators & governance of the local securities markets are analyzed in Part II. Each chapter examines regulations, & covers disclosure requirements, the registration process, regulations aiming at market transparency, shareholders' rights, & enforcement measures. Section III of each country chapter assesses the progress that has been made through legal reform of the securities markets, & looks forward to what further changes & improvements will be necessary to protect investors adequately. By taking a close look at developments in the securities regimes of eight Latin American countries, this work provides a practical & useful overview of the topic, & a basis for a comparative look at recent trends in Latin American capital markets as a whole.
Financial Policies And The World Capital Market
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Author : Pedro Aspe Armella
language : en
Publisher: University of Chicago Press
Release Date : 2009-05-15
Financial Policies And The World Capital Market written by Pedro Aspe Armella and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-05-15 with Business & Economics categories.
The essays brought together in this volume share a common objective: To bring a unifying methodological approach to the analysis of financial problems in developing, open economies. While the primary focus is on contemporary Latin America, the methods employed and the lessons learned are of wider applicability. The papers address the financial integration issue from three different perspectives. In some cases, a country study is the vehicle for an econometric investigation of a particular external linkage. In other cases, an individual country's experience suggests an economic model in which the stylized facts may be analyzed and developed. A third direction is unabashedly theoretical and formulates more general principles which are broadly applicable rather than country-specific.
Bond Markets In Latin America
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Author : Eduardo Borensztein
language : en
Publisher: MIT Press
Release Date : 2008
Bond Markets In Latin America written by Eduardo Borensztein and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with History categories.
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.
Capital Markets In Latin America
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Author : ANTONIN AUTOR BASCH
language : en
Publisher:
Release Date : 1970
Capital Markets In Latin America written by ANTONIN AUTOR BASCH and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1970 with categories.
A License To Issue Anywhere
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Author : Svetlana Vtyurina
language : en
Publisher: International Monetary Fund
Release Date : 2017-07-12
A License To Issue Anywhere written by Svetlana Vtyurina and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-12 with Business & Economics categories.
This paper overviews patterns in bond issuance in local and external markets by firms in six large Latin American countries. Data suggest that despite rising issuance, local markets remain small and shallow in several countries. Nevertheless, since greater funding is available to many firms in both markets, we investigate the factors that may explain the firm’s choice on where to issue a bond. Using an unbalanced panel of firm and market-level indicators for years 1995-2015, we control for variables representing several theories of capital structure, and the results show that firm characteristics such as size and liquidity increase the likelihood of firms to issue externally. With respect to market characteristics, the market completeness hypothesis generates the most support, where market scale and depth are most important for the issuer’s choice of the market, suggesting that local markets will have to become deeper to draw more firms and investment.