Description

Despite recently achieving high levels of economic growth, Latin America continues to be characterized by a weak and inefficient banking sector. Foreign banks have a significant presence, dollarization is high, and the region is characterized by peculiar boom and bust cycles in lending. In the first study of the banking sector in Latin America for thirty years, Gianfranco A. Vento investigates this paradox. Case studies of banking in the main Latin American countries discuss issues such as monetary policy, regulation, and capital markets. They are placed in the wider economic context of Latin America, and of the region's place in the global economy. Finally, Vento focuses on the banking sector in the wake of the global economic crisis, identifying the emergent trends for the future. This book will be essential reading for anyone interested in the economics of one of the world's most economically unstable regions.