This paper analyzes the structural reform process that has been taking place in Uruguay since the return to democracy in 1985. Three main questions oriented the research: why reform? what kind of reform? and, how well did the reform perform? The main focus is on the pro-market reforms as they...

In this paper we try to place the phenomenon of financial matching in the broader context of financial economics. We explore the conceptual links with collateral, leverage, role of capital in financial intermediaries and non-financial corporations, the risk-shifting between the financial and the...

This paper discusses the process of legal infrastructure reform to build better institutions for capital market development in Uruguay during the 1990s. It contains a description, a brief literature survey, an explanation, and an evaluation. From this we draw lessons and make a prospective...