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Book/Printed Material Financial liberalization in Latin-America in the 1990s a reassessment

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Title

  • Financial liberalization in Latin-America in the 1990s a reassessment

Summary

  • "This paper studies the experience of Latin-America [LATAM] with financial liberalization in the 1990s. The rush towards financial liberalizations in the early 1990s was associated with expectations that external financing would alleviate the scarcity of saving in LATAM, thereby increasing investment and growth. Yet, the data and several case studies suggest that the gains from external financing are overrated. The bottleneck inhibiting economic growth is less the scarcity of saving, and more the scarcity of good governance. A possible interpretation for these findings is that in countries where private savings and investments were taxed in an arbitrary and unpredictable way, the credibility of a new regime could not be assumed or imposed. Instead, credibility must be acquired as an outcome of a learning process. Consequently, increasing the saving and investment rates tends to be a time consuming process. This also suggests that greater political instability and polarization would induce consumers to be more cautious in increasing their saving and investment rates following a reform. Hence, reaching a sustained take-off in Latin-America is a harder task to accomplish than in Asia"--National Bureau of Economic Research web site.

Names

  • Aizenman, Joshua
  • National Bureau of Economic Research

Created / Published

  • Cambridge, MA : National Bureau of Economic Research, c2005.

Headings

  • -  Economic stabilization--Latin America
  • -  Financial services industry--Deregulation--Latin America
  • -  Investments--Government policy--Latin America
  • -  Saving and investment--Latin America

Notes

  • -  Title from PDF file as viewed on 3/9/2005.
  • -  Includes bibliographical references.
  • -  Also available in print.
  • -  Mode of access: World Wide Web.
  • -  System requirements: Adobe Acrobat Reader.

Call Number/Physical Location

  • HB1

Digital Id

Library of Congress Control Number

  • 2005616887

Access Advisory

  • Unrestricted online access

Online Format

  • image
  • pdf

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Cite This Item

Citations are generated automatically from bibliographic data as a convenience, and may not be complete or accurate.

Chicago citation style:

Aizenman, Joshua, and National Bureau Of Economic Research. Financial liberalization in Latin-America in the s a reassessment. Cambridge, MA: National Bureau of Economic Research, 2005. Pdf. https://aj.sunback.homes/item/2005616887/.

APA citation style:

Aizenman, J. & National Bureau Of Economic Research. (2005) Financial liberalization in Latin-America in the s a reassessment. Cambridge, MA: National Bureau of Economic Research. [Pdf] Retrieved from the Library of Congress, https://aj.sunback.homes/item/2005616887/.

MLA citation style:

Aizenman, Joshua, and National Bureau Of Economic Research. Financial liberalization in Latin-America in the s a reassessment. Cambridge, MA: National Bureau of Economic Research, 2005. Pdf. Retrieved from the Library of Congress, <aj.sunback.homes/item/2005616887/>.