This book analyzes the status of the markets in Latin America and identifies the technical, political, and financial challenges to building vibrant capital markets and increasing the efficiency benefits of regional economic and financial integration.

'Investor Protection and Corporate Governance' analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level--the first such data in the region--and results from a homogeneous corporate governance questionnaire, the book examines...

'Privatization in Latin America' evaluates the empirical evidence on privatization in a region that has witnessed an extensive decline in the state's share of production over the past 20 years. The book is a compilation of recent studies that provide a comprehensive analysis of the record of and...

The IDB Group, guided by its Strategy for Microenterprise Development, has made the creation of a sustainable market of services to the sector one of its most important priorities during the past decade. This report presents an overview of the contributions the IDB has made to the...

This paper marshals substantial arguments and data to support the contention that improving the access of micro and small enterprises to financial services could have an important salutary impact on a country's income distribution. To demonstrate this, the paper shows first that many poor own or...

This paper presents a synopsis of the current state of the microfinance industry in Latin America. It provides a rough assessment of the achievement and outreach of the industry; it offers revealing information on the financial performance of 20 microfinance institutions; and it outlines some of...

This publication was undertaken in the context of the International Forum on Latin American Perspectives, jointly organized by the Inter-American Development Bank and the OECD Development Centre. The IDB and the OECD Development Centre created this forum as an annual meeting place of ideas and...

This paper studies the effect of government-backed partial credit guarantees on firms' performance. These guarantees are automatically granted to firms without enough collateral in order to lift their credit constraints. We put together a panel, covering the period 1997-2007, that combines data...

The goal of this paper is to study the link between bank credit (and internal funding) and average firm size in Argentina. Besides the fact that economic growth tends to go hand in hand with larger firm size, the topic is of particular interest because of the severe credit crunch in Argentina in...

Using firm level data on 70,000 enterprises in 107 countries, this paper finds important effects of access to finance, business regulations, corruption, and to a lesser extent, infrastructure bottlenecks in explaining patterns of job creation at the firm level. The paper focuses on how the...