Cooperação financeira no Mercosul e o financiamento do investimento [Financial cooperation in Mercosur and investment financing]

Simone S. de Deos, Ana Rosa Ribeiro de Mendonça and Rubia C. Wegner
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Simone S. de Deos: CERI/IE/UNICAMP
Ana Rosa Ribeiro de Mendonça: NEIT/IE/UNICAMP
Rubia C. Wegner: UFRRJ

Nova Economia, 2013, vol. 23, issue 1, 155-184

Abstract: The regional integration systems that arose during the 1990s, such as Mercosur, were implemented during the so called financial globalization period. However, the connection of the economies in the periphery to the international financial markets has not been able to solve the key question of long term financing for investment. The literature in the Keynes tradition points out that the shortage of long term funding is a key problem. In this regard, the financial system should be able to provide resources, especially long term resources, for investment funding, minimizing uncertainty and making it feasible to acquire capital assets with longer maturities. This paper aims to analyze the importance of regional financial cooperation to strengthen the long term financing mechanisms in the Mercosur economies.

Keywords: Mercosur; financial systems; regional financial cooperation; investment financing (search for similar items in EconPapers)
JEL-codes: F33 F36 F42 (search for similar items in EconPapers)
Date: 2013
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