A abertura dos sistemas financeiros latino-americanos e o financiamento do desenvolvimento

Abstract

This paper presents a brief discussion on the evolution of financial systems in major Latin American countries after the implementation of economic stabilisation plans associated with financial deregulation procedures and the voluntary re-inflow of international capital to those countries in the 90’s. It is also shown that this period is markedly characterised by: entrance of foreign banks into national markets; portfolio investments in national capital markets; and issue of bonds, stocks and depository receipt (ADR and GDR) in the international market. Moreover, it supports that this kind of financial  insertion is not enough to allow a sustained economic recovery in most in most Latin American countries.