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Bank credit is the main source of funding for firms and households in Latin America and the Caribbean Unfortunately, bank credit in the region is scarce, costly and extremely volatile. Given the importance of banking to growth and prosperity, the IDB focused its 2005 Economic and Social Progress Report on this sector. This latest edition of IDEA is based on that report, summarizing some of the major issues from Unlocking Credit: The Quest for Deep and Stable Bank Lending.
Related links:Wikipedia: Domestic liability dollarization
Financial liberalization has not lived up to expectations, at least as far as interest rate spreads are concerned. Over the past decade, many countries in Latin America and the Caribbean have reformed their financial sectors and reaped major economic benefits as a result. However, the persistence of high interest rate spreads -the difference between the interest charged to borrowers and the rate p ... (View publication)
What are the sources of structural volatility in Latin America? To address this question, Macroeconomic Volatility in Reformed Latin America focuses on the factors responsible for macroeconomic instability in three Latin American economies: Argentina, Mexico, and Chile. It finds that volatility in these countries can largely be traced to two critical weaknesses: weak links with international finan ... (View publication)
Access to capital is crucial for economic development. In many developing nations, however, high default rates present a serious obstacle to the creation of efficient capital markets. Defusing Default examines the problem of default in various countries throughout the Americas as well as public and private means of encouraging repayment of debts. Encompassing theoretical approaches and empirical d ... (View publication)
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