"This paper argues that the dominant policy paradigm on financial development is increasingly insufficient to address big emerging issues that are particularly relevant for financial systems in Latin America. This paradigm was shaped over the past decades by a fundamental shift in thinking towa...

Ausführliche Beschreibung

Bibliographische Detailangaben

1. Verfasser:	Torre, Augusto de la (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	[Washington, D.C] World Bank 2006
Schriftenreihe:	Policy research working paper 3963
Schlagworte:	Lateinamerika Finance > Latin America
Online-Zugang:	Volltext
Zusammenfassung:	"This paper argues that the dominant policy paradigm on financial development is increasingly insufficient to address big emerging issues that are particularly relevant for financial systems in Latin America. This paradigm was shaped over the past decades by a fundamental shift in thinking toward market-based financial development and a complex process of financial crises interpretation. The result has been a richly textured policy paradigm focused on promoting financial stability and the convergence to international standards. It argues, however, that there is a growing dissonance between the current paradigm and the emerging issues, which is illustrated by discussing challenges in three areas: stock markets, small and medium enterprise loans, and defined-contribution pension funds. The paper concludes that the dominant policy paradigm is ill-suited to provide significant guidance in relation to the big emerging issues. It emphasizes the need to take a fresh look at the evidence, improve the diagnoses, revisit expectations, and revise the paradigm. "--World Bank web site
Beschreibung:	Includes bibliographical references. - Title from PDF file as viewed on 8/23/2006 Erscheinungsjahr in Vorlageform:[2006] Weitere Ausgabe: Torre, Augusto de la: Financial development in Latin America
Beschreibung:	1 Online-Ressource (42 Seiten)