Download E-books Bond Markets in Latin America: On the Verge of a Big Bang? (MIT Press) PDF

By Eduardo Borensztein, Kevin Cowan, Barry Eichengreen, Ugo Panizza

Developing neighborhood bond markets is excessive at the coverage time table of Latin the USA. Bond markets are an integral part of a well-functioning monetary industry. Facilitating the efforts of private and non-private debtors to factor domestic-currency-denominated, long term, fixed-rate bonds insulates them from the rollover and stability sheet dangers which have been important components in previous monetary crises. moreover, a strong bond industry is a fashion for nonfinancial businesses to hold their capability to borrow whilst the banking method grows reluctant to lend. Latin American bond markets are turning out to be, and will even technique a "big bang"-like surge, even if major demanding situations stay. this primary accomplished exam of the significance of neighborhood bond marketplace improvement in Latin the USA presents conceptual and comparative tests, case experiences of six international locations, surveys of businesses and traders, and a cross-country fiscal research of the determinants of bond industry improvement. The book's case reports of Argentina, Brazil, Chile, Colombia, Mexico, and Uruguay, written by means of kingdom specialists, persist with a typical technique, with every one delivering a background of that country's bond marketplace improvement, a complete and detailed info set on either inner most and public bond markets, surveys of agencies and traders, and (in many chapters) firm-level research. an online appendix makes on hand the original facts units, together with result of particularly designed surveys of businesses and traders members, utilized in the book's studies.

Contributors: Camila Aguilar, Patrick Bolton, Eduardo Borensztein, Matías Braun, Ignacio Briones, Mauricio Cárdenas, Andre L. Carvalhal da Silva, Sara G. Castellanos, Kevin Cowan, Julio de Brun, Barry Eichengreen, Roque B. Fernández, Xavier Freixas, Néstor Gandelman, Herman Kamil, Ricardo P. C. Leal, Lorenza Martínez, Marcela Meléndez, Ugo Panizza, Sergio Pernice, Arturo C. Porzecanski, Natalia Salazar, Jorge Streb

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