Policy-Based Finance and Market Alternatives: East Asian Lessons for Latin America and the Caribbean

This book contains a selection of the major presentations from the conference: "Policy-Based Finance and Alternatives for Financial Market Development" held in Rio de Janeiro, Brazil in early 1996. It explores the generally successful East Asian experiences with policy-based finance and contrasts these with the less successful, directed credit programs undertaken by Latin American and Caribbean governments in their attempts to support specific sectors of their respective economies. This volume extracts universal lessons that are applicable to emerging markets and applies them to the market approach underway in most of the countries in Latin America and the Caribbean.