Building Blocks for Effective Macroprudential Policies in Latin America: Institutional Considerations
IMF Working Papers, July 1, 2012
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- Building Blocks for Effective Macroprudential Policies in Latin America: Institutional Considerations
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Bibliographic details
- Authors: Patrick A. Imam, Erlend Nier, Luis Ignacio Jácome
- Published: July 1, 2012
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781475505313.001
Overview
- An increasing number of countries — including in Latin America — are reforming their financial stability frameworks in the aftermath of the financial crisis to establish a stronger macroprudential policy function.
- The paper analyzes existing arrangements for financial stability in Latin America and examines key issues to consider when designing the institutional foundations for effective macroprudential policies.
- The analysis focuses primarily on eight Latin American countries.
Key findings
- Countries are strengthening macroprudential policy functions as part of post-crisis reforms.
- Institutional arrangements for monetary and financial policies in the eight studied countries can be classified into two distinct groups:
- "Pacific" model: Chile, Colombia, Peru, Costa Rica, and Mexico.
- "Atlantic" model: Argentina, Brazil, and Uruguay.
Themes and areas of analysis
- Institutional arrangements for financial stability in Latin America.
- Design issues for institutional foundations of effective macroprudential policies.
- Interactions between monetary policy, banking supervision, and macroprudential policy in different institutional models.
- Systemic risk management and financial sector stability frameworks.
Subjects and keywords (as listed in the source)
- Banking, Financial crises, Financial regulation and supervision, Financial sector policy and analysis, Financial sector stability, Macroprudential policy, Systemic risk
- Keywords: a number of crises country, banking supervision, central banks, deposit guarantee, Financial sector stability, financial stability, financial system, Global, issues regulation, Macroprudential policy, Macrorpudential policy, monetary policy, response policy, section III, supervisory agency, systemic crises, Systemic risk, WP
IMF Working Paper — Building Blocks for Effective Macroprudential Policies in Latin America: Institutional Considerations (Patrick A. Imam, Erlend Nier, Luis Ignacio Jácome).