Bond financing has replaced bank loans and other sources of capital flows as a major source of funding for emerging markets. This shift has been particularly impressive in Latin America. Disentangling the dynamics of emerging bond markets and the information flow about them has attracted the...

The paper addresses two core questions: do investment banks’ recommendations have an impact on the allocation of portfolio flows in the emerging-markets asset class? Above all, are these recommendations related to the business of investment banks? In order to answer these questions, we...

In order to analyze the impact of the new banking capital regulation (Basel II) on the business cycle in an emerging economy, I develop a duopoly model composed of domestic and foreign banks. The principal results are: by the conduct of new banking capital regulation, the assessment of credit...

En los últimos 25 años, más de 130 países han presentado crisis bancarias o serios problemas bancarios, con un coste fiscal elevado. El origen de estas crisis ha estado en un diseño deficiente de la regulación bancaria y/o en la falta de credibilidad de las políticas económicas...

The paper addresses two core questions: do recommendations have an impact on the allocation of flows in the asset class? Above all, are we facing in this asset class major problems of asymmetries of information? In order to answer these questions, we used untapped and rich datasets. We...

In order to analyze the impact of the new banking capital regulation (Basel II) on the business cycle in an emerging economy, I develop a duopoly model composed of domestic and foreign banks. The principal results are: by the conduct of new banking capital regulation, the assessment of credit...

En los últimos 25 años, más de 130 países han presentado crisis bancarias o serios problemas bancarios, con un coste fiscal elevado. El origen de estas crisis ha estado en un diseño deficiente de la regulación bancaria y/o en la falta de credibilidad de las políticas económicas...

The paper addresses two core questions: do recommendations have an impact on the allocation of flows in the asset class? Above all, are we facing in this asset class major problems of asymmetries of information? In order to answer these questions, we used untapped and rich datasets. We...

Between November 2009 and December 2012, no fewer than 16 presidential elections will be held in the region. The series will begin with Chile in December of this year, and will end with elections in Mexico and Venezuela between August and December 2012. This column explores the changing dynamics...

In this paper we test the impact of elections on fiscal policy in Latin American economies in comparison to OECD countries over the period 1990-2006. We find that in Latin American countries, the average primary balance declines by an amount close to 0.7 per cent of GDP during an election year,...