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A New proposal for the Bank of South

Author

Listed:
  • Daniel Munevar

    (School of Public Affairs, University of Texas at Austin)

  • Marcos Jorge Teixeira Reis

    (Centro de Prospectiva Estrategica, Instituto de Altos Estudios Nacionales)

Abstract

This paper seeks to discuss a proposal regarding a new multilateral institution in Latin America, the Bank of South. It presents the original plan of the Bank, made in 2007 and its recent developments stressing the problems faced during its implementation. It concludes presenting a new proposal for the bank to make it better suited to foster the commercial and financial integration of its members. Instead of a standard Multilateral Development Bank as in the current proposal, the authors propose a radically different design for the Bank: National branches making loans in their local currency to SMEs engaged in regional trade. The activities of the national branches of the Bank of South would be supported by private financial institutions, which would undertake the risk assessment process, and by the respective central bank, which would re-discount or securitize the loans provided by the bank.

Suggested Citation

  • Daniel Munevar & Marcos Jorge Teixeira Reis, 2015. "A New proposal for the Bank of South," Documentos de Trabajo CEPROEC 2015_08, Instituto de Altos Estudios Nacionales, Centro de Prospectiva Estratégica.
    • Handle: RePEc:cpe:cpewps:2015_08
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    References listed on IDEAS

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    2. Pedro da Motta Veiga & Sandra Polónia Rios, 2014. "Cadeias Globais de Valor e Implicações para a Formulação de Políticas," Discussion Papers 2015, Instituto de Pesquisa Econômica Aplicada - IPEA.
    3. Epstein, Gerald., 2015. "Development central banking : a review of issues and experiences," ILO Working Papers 994881283402676, International Labour Organization.
    4. Erten, Bilge & Ocampo, José Antonio, 2013. "Super Cycles of Commodity Prices Since the Mid-Nineteenth Century," World Development, Elsevier, vol. 44(C), pages 14-30.
    5. World Bank, 2014. "World Development Indicators 2014," World Bank Publications - Books, The World Bank Group, number 18237, December.
    6. World Bank, 2012. "World Development Indicators 2012," World Bank Publications - Books, The World Bank Group, number 6014, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Bank of South; Multilateral Development Bank; Integration of Latin America;
    All these keywords.

    JEL classification:

    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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