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¿Fabricar o comprar? Enfoques de la integración de mercados financieros

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Michael Gavin
Ricardo Hausmann

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Abstract

(Disponible en idioma inglés únicamente) Las grandes diferencias entre los mercados financieros que hay actualmente en América Latina y cuánto cabe anticipar que cambien en un marco de integración total sugiere que las limitaciones financieras al desarrollo económico de América Latina tienen mucho que ver con lo incompleto de la integración de los mercados financieros de la región al sistema financiero mundial. En este trabajo se sugiere que la causa subyacente de la limitada integración de América Latina a los mercados financieros mundiales no son las barreras explícitas a las transacciones financieras internacionales. Más bien, lo que impide la integración son las debilidades de los mercados financieros internos de los países latinoamericanos en su intermediación de los flujos internacionales de capitales. Un enfoque adecuado de integración financiera puede fortalecer y profundizar el sistema financiero nacional al permitir importaciones indirectas de los bienes públicos necesarios (provenientes de los países de origen de los bancos) y permitir una mayor diversificación de los riesgos propios de cada país.

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Paper provided by Inter-American Development Bank, Research Department in its series RES Working Papers with number 4053.

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Date of creation: Feb 1997
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Handle: RePEc:idb:wpaper:4053

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. repec:fth:inadeb:320 is not listed on IDEAS
  2. Haubrich, Joseph G., 1990. "Nonmonetary effects of financial crises : Lessons from the great depression in Canada," Journal of Monetary Economics, Elsevier, vol. 25(2), pages 223-252, March. [Downloadable!] (restricted)
  3. Calvo, Guillermo A & Leiderman, Leonardo & Reinhart, Carmen M, 1996. "Inflows of Capital to Developing Countries in the 1990s," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 123-39, Spring. [Downloadable!] (restricted)
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  4. Liliana Rojas-Suárez & Steven R. Weisbrod, 1996. "Building Stability in Latin American Financial Markets," RES Working Papers 4028, Inter-American Development Bank, Research Department. [Downloadable!]
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