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What happens to firms in the face of financial crises? Little research has been done on the microeconomic implications of financial policies and crises while attention has been focused on the macroeconomic effects of these events. This book attempts to fill this research gap. Credit Constraints and Investment in Latin America contains new evidence on the nature, extent, evolution and consequences of financing constraints. It analyzes firms' investment behavior under conditions of severe market failure. The ability of the banking sector to pool resources and channel them efficiently to firms is an important determinant of the process of economic development and growth. The chapters in this volume use micro data to study credit supply restrictions at the firm level in Argentina, Colombia, Costa Rica, Ecuador, Mexico and Uruguay.
Related links:Wikipedia: International Lender of Last Resort
This paper provides an overview of the reserve requirement measures undertaken by the Central Bank of Peru. It provides a rationale for the use of these instruments as well as empirical evidence of their effectiveness. In general, the results show that tightening reserve requirements has the desired effects on interest rates and credit levels at both banks and smaller financial institutions (cajas ... (View publication)
This study discusses recent experiences with inflation targeting (IT), the challenges that it faces since the global financial crisis, and ways to address them. The discussion is conducted from the perspective of upper middle-income countries. As background for the analysis, the study first provides a review of financial systems in middle-income countries or MICS (with a focus on the role of bank ... (View publication)
Swimming against the prevailing economic tide, public banks are still a major force in the financial sector. This edition of IDEA examines the record of public banks and research on the theoretical frameworks for and against state-owned banks. It presents lessons learned from the past as well as issues for the future. (View publication)
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