{
  "title": "Financial Integration in Latin America",
  "publication": "Policy Papers, March 4, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/financial-integration-in-latin-america-pp5026",
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  "summary": "Many Latin American economies have experienced significant reductions in growth recently, as a result of the end of the commodity super-cycle and the rebalancing of China’s growth, and a number of global banks have been leaving the region.",
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      "heading": "Summary",
      "content": "- Publication date: March 4, 2016\n- Core observation: Many Latin American economies have experienced significant reductions in growth recently, as a result of the end of the commodity super-cycle and the rebalancing of China’s growth.\n- Regional context: Latin American countries were generally less affected by the global financial crisis (GFC) than other regions, but continue to suffer from the protracted sluggish growth in advanced economies.\n- Financial sector development: Since 2008 there has been a withdrawal of global banks from the region, potentially worsening access to credit or reducing competition in the financial sector.\n- External vulnerability: The GFC demonstrated that extreme economic volatility can originate from outside the region, rather than internally, as was the experience of the 1980s and 1990s.\n- Institutional note: The IMF eLibrary offers over 25,000 IMF publications in multiple formats."
    },
    {
      "heading": "Key findings and observations",
      "content": "- Growth drivers and shocks:\n  - End of the commodity super-cycle and rebalancing of China’s growth are cited as main contributors to recent reductions in growth.\n  - Protracted sluggish growth in advanced economies continues to weigh on the region.\n- Financial integration and market structure:\n  - Withdrawal of global banks since 2008 has implications for access to credit and competition within domestic financial sectors.\n  - The GFC highlighted the prominence of external sources of extreme economic volatility for the region.\n- Historical contrast:\n  - The source contrasts recent externally driven volatility with earlier periods (the 1980s and 1990s) when volatility often originated internally."
    },
    {
      "heading": "Publication metadata and classification",
      "content": "- Format: Chicago\n- Preview citation shown: Financial Integration in Latin America, (USA: International Monetary Fund, 0) accessed 8/23/2026\n- Subjects: Access to capital markets; Bank supervision; Banks; Capital markets; Cross country analysis; Economic integration; Financial sector; Insurance; Latin America; Pension funds\n- Access note: Download PDF available from the landing page.\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/financial-integration-in-latin-america-pp5026\n\n---\n\n Content in this bundle\n\n- Financial Integration in Latin America; IMF Policy paper; March 4, 2016\n  - Financial Integration in Latin America; IMF Policy paper; March 4, 2016 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Financial Integration in Latin America; IMF Policy paper; March 4, 2016 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/financial-integration-in-latin-america-pp5026"
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    "Published: March 4, 2016",
    "Series: Policy Papers",
    "Publication date: March 4, 2016",
    "Core observation: Many Latin American economies have experienced significant reductions in growth recently, as a result of the end of the commodity super-cycle and the rebalancing of China’s growth.",
    "Regional context: Latin American countries were generally less affected by the global financial crisis (GFC) than other regions, but continue to suffer from the protracted sluggish growth in advanced economies.",
    "Financial sector development: Since 2008 there has been a withdrawal of global banks from the region, potentially worsening access to credit or reducing competition in the financial sector.",
    "External vulnerability: The GFC demonstrated that extreme economic volatility can originate from outside the region, rather than internally, as was the experience of the 1980s and 1990s.",
    "Institutional note: The IMF eLibrary offers over 25,000 IMF publications in multiple formats.",
    "Growth drivers and shocks:",
    "Financial integration and market structure:",
    "Historical contrast:",
    "Format: Chicago",
    "Preview citation shown: Financial Integration in Latin America, (USA: International Monetary Fund, 0) accessed 8/23/2026",
    "Subjects: Access to capital markets; Bank supervision; Banks; Capital markets; Cross country analysis; Economic integration; Financial sector; Insurance; Latin America; Pension funds",
    "Access note: Download PDF available from the landing page.",
    "**Financial Integration in Latin America; IMF Policy paper; March 4, 2016**"
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