Innovaciones financieras en América Latina: mercados de derivados y determinantes de la administración de riesgo

Financial Innovations in Latin America: Derivatives markets and Determinants of Risk Management

Francisco Ibáñez, Rafael Romero-Meza, Semei Coronado-Ramírez and Francisco Venegas-Martínez

MPRA Paper from University Library of Munich, Germany

Abstract: This paper is aimed at examining the theoretical determinants and empirical evidence on the use of derivatives in Latin America for risk management. The contingent claims, the development of their market, and their use, is undoubtedly one of the most powerful financial innovations available to individuals and businesses. It is shown that though Latin American firms use derivatives, there is a lack of research to understand its determinants. The causes and incentives for the development of the Chilean derivatives market are investigated, concluding that its development could not take off in exchanges; however, the OTC market has shown a healthy development. Finally, goals and challenges for Latin American countries are stated and potential research ideas to fill the gap on empirical aspects of risk management in these economies are proposed.

Keywords: Financial innovations derivatives; risk management; Latin America. (search for similar items in EconPapers)
JEL-codes: G13 (search for similar items in EconPapers)
Date: 2015-03-21
New Economics Papers: this item is included in nep-lam and nep-rmg
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Related works:
Journal Article: Innovaciones financieras en América Latina:Mercado de Derivados y Determinates de la Administración de Riesgo (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:63151

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