Latin America's access to international capital markets

good behavior or global liquidity?

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Author

Ana Fostel

Contributions

Kaminsky, Graciela Laura. - Contributor
National Bureau of Economic Research. - Contributor

Publication

2007 - National Bureau of Economic Research, Cambridge, Mass, Massachusetts

Language

English

Word Count

5,000 words, Guess

Page Count

20 pages

Identifiers

OCLC Control Number162201610
Open LibraryOL17634807M

Description

"This paper examines Latin America's access to international capital markets from 1980 to 2005, with particular attention to the role of domestic and external factors. To capture access to international markets, we use primary gross issuance in international bond, equity, and syndicated-loan markets. Using panel estimation, we find that sound fundamentals matter. For example, Argentina, Brazil, and Chile's superb performance in capital markets during the early 1990s has been in large part driven by better fundamentals. However, the upsurge in international lending to Latin America starting in 2003 has been mainly driven by a dramatic increase in global liquidity."--abstract.

Subjects

Topics

Capital market Foreign Investments Investments, Foreign Capital market -- Latin America Investments, Foreign -- Latin America

Places

Latin America

Series Statement

NBER working paper series -- no. 13194.
Working paper series (National Bureau of Economic Research) -- working paper no. 13194.

Other Editions

Latin America's access to international capital markets: good behavior or global liquidity?National Bureau of Economic Research2007-01-01

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