Financial Development in Latin America and the Caribbean The Road Ahead

Title Financial Development in Latin America and the Caribbean The Road Ahead
Author Name Augusto de la Torre, Alain Ize, and Sergio L. Schmukler
Link http://siteresources.worldbank.org/LACINSPANISHEXT/Resources/FLAGSHIP_eng.pdf


Is Latin America's Financial Sector on a Strong Footing?
During the 1980s and 1990s, financial sectors were the Achilles' heel of economic development in Latin America and the Caribbean (LAC). Since then, these sectors have grown and deepened, becoming more integrated and competitive, with new actors, markets, and instruments springing up and financial inclusion broadening. To crown these achievements, the region's financial systems were left largely unscathed by the global financial crisis of 2008–09. Now that the successes of LAC's macrofinancial stability are widely recognized and tested, it is high time for an in-depth stocktaking of what remains to be done.

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