Latin America's access to international capital markets: good behavior or global liquidity?
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 mar...
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
National Bureau of Economic Research
2007
|
| Series: | Working paper series / National Bureau of Economic Research
13194 |
| Online Access: | Volltext |
| Summary: | 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. |
| Item Description: | Literaturverz. S. 19 - 20 |
| Physical Description: | 20, [19] S. graph. Darst. 22 cm |
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| spelling | Fostel, Ana Verfasser (DE-588)13347738X aut Latin America's access to international capital markets good behavior or global liquidity? Ana Fostel ; Graciela Laura Kaminsky Cambridge, Mass. National Bureau of Economic Research 2007 20, [19] S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 13194 Literaturverz. S. 19 - 20 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. Kaminsky, Graciela L. Verfasser (DE-588)124735576 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 13194 (DE-604)BV002801238 13194 http://papers.nber.org/papers/w13194.pdf kostenfrei Volltext |
| spellingShingle | Fostel, Ana Kaminsky, Graciela L. Latin America's access to international capital markets good behavior or global liquidity? |
| title | Latin America's access to international capital markets good behavior or global liquidity? |
| title_auth | Latin America's access to international capital markets good behavior or global liquidity? |
| title_exact_search | Latin America's access to international capital markets good behavior or global liquidity? |
| title_exact_search_txtP | Latin America's access to international capital markets good behavior or global liquidity? |
| title_full | Latin America's access to international capital markets good behavior or global liquidity? Ana Fostel ; Graciela Laura Kaminsky |
| title_fullStr | Latin America's access to international capital markets good behavior or global liquidity? Ana Fostel ; Graciela Laura Kaminsky |
| title_full_unstemmed | Latin America's access to international capital markets good behavior or global liquidity? Ana Fostel ; Graciela Laura Kaminsky |
| title_short | Latin America's access to international capital markets |
| title_sort | latin america s access to international capital markets good behavior or global liquidity |
| title_sub | good behavior or global liquidity? |
| url | http://papers.nber.org/papers/w13194.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT fostelana latinamericasaccesstointernationalcapitalmarketsgoodbehaviororgloballiquidity AT kaminskygracielal latinamericasaccesstointernationalcapitalmarketsgoodbehaviororgloballiquidity |