CEPAL Review

Cepal Review is the leading journal for the study of economic and social development issues in Latin America and the Caribbean. Edited by the Economic Commission for Latin America, each issue focuses on economic trends, industrialization, income distribution, technological development and monetary systems, as well as the implementation of economic reform and transfer of technology. Written in English and Spanish (Revista de la Cepal), each tri-annual issue offers approximately 12 studies and essays undertaken by authoritative experts or gathered from conference proceedings.

English Spanish

Latin America: Financial systems and financing of investment Diagnostics and proposals

This work examines the main characteristics of the financial systems of Latin America, in order to develop proposals for strengthening investment finance in the region. First, a diagnostic is given of the investment-supporting capacities of the region’s banking systems, stock and bond markets, and flows of external financing. Next, an analysis is offered of the principal macroeconomic and microeconomic factors and a number of structural features that have had a hand in the region’s shallow financial development and the system’s failure to adapt to the needs of investment financing. Against this background, proposals are made for expanding the capacity of financial systems to support investment in firms of all sizes, and guidelines are offered for fostering access to long-term credit for smaller enterprises.

English Spanish

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