Benefits of Global and Regional Financial Integration in Latin America
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Summary:
The timing is ripe to pursue greater regional financial integration in Latin America given the withdrawal of some global banks from the region and the weakening of growth prospects. Important initiatives are ongoing to foster financial integration. Failure to capitalize on this would represent a significant missed opportunity. This paper examines the scope for further global and regional financial integration in Latin America, based on economic fundamentals and comparisons to other emerging regions, and quantifies the potential macroeconomic gains that such integration could bring. The analysis suggests that closing the financial integration gap could boost GDP growth be ¼ - ¾ percentage point in these countries, on average.
Series:
Working Paper No. 2017/001
Subject:
Economic integration Emerging and frontier financial markets Financial crises Financial integration Financial markets Globalization Regional integration
English
Publication Date:
January 18, 2017
ISBN/ISSN:
9781475568684/1018-5941
Stock No:
WPIEA2017001
Pages:
32
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