Financial Regulation and Supervision in Emerging Markets: The Experience of Latin America since the Tequila Crisis

Barbara Stallings and Rogerio Studart

No DP2002-45, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: The paper deals with changes in the regulation and supervision of the Latin American financial sector in the aftermath of the 'Tequila Crisis' of 1994-95. While it finds that both have improved, regulation and supervision cannot resolve all problems; good macroeconomic policy and performance are essential complements. This is especially true because of the procyclical nature of financial activity. The paper presents both regional data for Latin America, contrasting it with other emerging markets, and four country case studies (Argentina, Brazil, Chile, and Mexico).

Keywords: Economic policy; Financial crisis; Financial institutions; Monetary policy; Securities (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (21)

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