Financial Integration in Latin America: A New Strategy for a New Normal

Books, April 10, 2017

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Financial Integration in Latin America: A New Strategy for a New Normal

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Bibliographic details

• Authors: Charles Enoch, Wouter Bossu, Carlos Caceres, Diva Singh
• Published: April 10, 2017
• Series: Books
• DOI: https://doi.org/10.5089/9781513520247.071

Context and Rationale

• Growth in much of Latin America is slowing due to:
  • the end of the commodity supercycle,
  • economic rebalancing in China,
  • fragmentation of the international banking system.
• These developments create a need for policies to stimulate growth.

Scope of the Study

• Examines the financial landscapes of seven Latin American economies:
  • Brazil, Chile, Colombia, Mexico, Panama, Peru, and Uruguay.
• Authors:
  • Charles Enoch, Wouter Bossu, Carlos Caceres, Diva Singh.
• Publication date: April 10, 2017.
• Pages: 226.
• DOI: https://doi.org/10.5089/9781513520247.071
• ISBN: 9781513520247
• Stock No: FILAEA

Main Findings

• Regional financial integration offers benefits to the Latin American region.
• Cross-border activity is limited by barriers across multiple financial sectors:
  • Banks,
  • Insurance companies,
  • Pension funds,
  • Capital markets.
• Regional integration now could serve as a step toward global integration in the short term.

Barriers Identified

• Barriers to cross-border activity are present in:
  • Banking systems,
  • Insurance sectors,
  • Pension fund operations,
  • Capital market functioning.
• Fragmentation of the international banking system compounds regional challenges.

Recommendations and Policy Directions

• Pursue policies to advance regional financial integration to stimulate growth.
• Address identified barriers to cross-border activity in:
  • banks,
  • insurance companies,
  • pension funds,
  • capital markets.
• Use regional integration as a pathway to eventual global integration in the short term.

Subjects and Keywords (as listed)

• Subjects: Banking, Economic integration, Expenditure, Financial institutions, Financial integration, Financial markets, Insurance, Insurance companies, Pension spending, Regional integration.
• Keywords: Asia and Pacific, asset, asset growth, bank, BOOK, Central America, Europe, Financial integration, firm, Global, Insurance, Insurance companies, LA-7, Latin American economy, market, market liquidity, North America, pension fund assets, Pension spending, Regional integration, securities exchange.

International Monetary Fund. Financial Integration in Latin America: A New Strategy for a New Normal. April 10, 2017. DOI: https://doi.org/10.5089/9781513520247.071