Financial Regulation and Supervision in Emerging Markets

The Experience of Latin America since the Tequila Crisis

Format *
The financial crisis of 1994-1995 sounded a wake-up call to Latin America, indicating that regulation and supervision needed to be strengthened substantially. Since then, important steps have been taken to set rules and ensure their implementation, but financial regulation and supervision do not take place in a vacuum. On the one hand, they must be consistent with domestic macroeconomic policies. On the other hand, they have to take into account the new international rules being proposed by multilateral agencies. And, all of this must be done in the context of scarce resources, especially trained personnel. This paper looks at these problems from the viewpoint of the Latin American region as a whole and four individual country case studies. The conclusion is that there has been considerable improvement in the banking regulation and supervision since 1994-1997, but that macroeconomic turbulence continues to pose challenges to the stability of the banking sector.
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Details:

Agency/Department
UN/Economic Commission for Latin America and the Caribbean
Print ISBN
9789211213409
Print Publication Date
Page Count
40
Print Sales Number
01.II.G.205
Series Title
Macroeconomía del Desarrollo

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