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Benefits of Global and Regional Financial Integration in Latin America

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Benefits of Global and Regional Financial Integration in Latin America

IMF,

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Regional integration of Latin American financial institutions could improve economic growth.

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8

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  • Innovative
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Recommendation

Latin American countries, following a roller coaster of economic conditions in the 1980s and 1990s, began allowing global banks into their financial systems in 2000. But the international giants have been pulling out of these markets since the 2008 global crisis. According to this fresh perspective from economists Luc Eyraud, Diva Singh and Bennett Sutton, Latin American nations should seize the opportunity to strengthen their economies by creating regionally integrated financial infrastructures. getAbstract recommends this astute analysis to executives, investors and anyone interested in Latin America’s future.

Summary

Around the turn of the 21st century, Latin American countries began welcoming into their economies global banks eager to do business in the region. In some cases, such as in Mexico and Uruguay, the big institutions came to dominate the local landscapes. The global banking behemoths brought investment capital, regulatory expertise and technology infrastructure improvements. But since the 2008 financial crisis, these banks have been leaving the region. Many Latin American nations are now coping with smaller and weaker financial systems during an economic downturn.

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About the Authors

Luc Eyraud, Diva Singh and Bennett Sutton are economists at the International Monetary Fund.

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