- Copyright Page
- List of Figures
- List of Tables
- List of Abbreviations
- List of Contributors
- Banking: A Decade on from the Global Financial Crisis
- The Roles of Banks in Financial Systems
- Commercial Banking and Shadow Banking: The Accelerating Integration of Banks and Markets and its Implications for Regulation
- Corporate Complexity and Systemic Risk: A Progress Report
- Corporate Governance and Culture in Banking
- Private Information and Risk Management in Banking
- Creation and Regulation of Bank Liquidity
- The Performance of Financial Institutions Modeling, Evidence, and some Policy Implications
- Technological Change and Financial Innovation in Banking: Some Implications for FinTech
- Community Banking Institutions: Commercial Banks, Savings Banks,Cooperative Banks, and Credit Unions
- Islamic banking: A Review of the Empirical Literature and Future Research Directions
- Can We Improve the Impact of Microfinance?: A Survey of the Recent Literature and Potential Avenues for Success
- Small Business Lending: The Roles of Technology and Regulationfrom Pre-crisis to Crisis to Recovery
- Residential Mortgages
- Shadow Banking
- Modern Central Banking
- Lender of Last Resort: A New Role for the Old Instrument
- Bank Bailouts and Bail-Ins
- Bank Runs and Moral Hazard: A Review of Deposit Insurance
- Bank Capital Requirements after the Financial Crisis
- Market Discipline in Regulation: Pre and Post Crisis
- Competition in the Banking Sector
- Behavioral Economics, Financial Literacy, and Consumers’ Financial Decisions
- Systemic Risk in Banking after the Great Financial Crisis
- Hardy Perennials: Banking Crises Around the World
- Bank Failures, The Great Depression, and Other “Contagious” Events
- Banking Globalization: Cross-border Entry, Complexity,and Systemic Risk
- Banking and Real Economic Activity: Foregone Conclusions and Open Challenges
- Banking in the United States
- Banking in Europe: Integration, Reform, and the Road to a Banking Union
- Banking in Japan: A Post-global Financial Crisis Perspective
- Banking in Africa
- Banking in China
- Banking in the Transition Countries of Central, Southern, and Eastern Europe and the Former Soviet Union
- Banking in Latin America: Developments and Prospects
- Banking in Australia and New Zealand—Geographic Proximity, Market Concentration, and Banking Integration
Abstract and Keywords
This chapter offers a unique portrayal of the evolution of banking in Latin America. We contextualize our analysis by providing a detailed assessment of how financial policy has evolved across the region beginning with development models of the post-1945 period. Events of the 1980s and 1990s are a source of recent developments, which we succinctly summarize as the financial deepening and growth of a market-oriented and more competitive environment. Specific developments include the repeal of state involvement in banking, and bank privatization including wider penetration of domestic banking by foreign banks. We examine the effects of consolidation on banking activity before considering the special role development banks have come to play, especially following the global financial crisis. Throughout the chapter, we present data to inform our comparative analysis across regional banking sectors, and between Latin America and other economies.
Fernando J. Cardim De Carvalho is Professor of Economics at the Institute of Economics, Federal University of Rio de Janeiro (Brazil) and Director of the Money and Finance Study Group headquartered at the same university. A former chairman of the Brazilian Association of Graduate Schools in Economics (ANPEC), his research interests are Keynesian macroeconomics, international monetary economics, and financial systems.
Luiz Fernando De Paula is Professor of Economics at the State University of Rio de Janeiro (Brazil), joint appointment between the Faculty of Economics (FCE) and Institute of Social and Political Studies (IESP), and CNPq Researcher. He is currently a co-editor of the Brazilian Keynesian Review. He is author of the book Financial Liberalization and Economic Performance: Brazil at the Crossroads (Routledge, 2011) and co-editor of the book Financial Liberalization and Economic Performance in Emerging Countries (Palgrave Macmillan, 2008). A former chairman of the Brazilian Keynesian Association, his research interests include banking, financial systems, Keynesian macroeconomics, and economic policies related to emerging economies.
Jonathan Williams is a Professor of Banking and Finance at Bangor University, Wales, where he is Head of Bangor Business School and Co-Director of the Institute of European Finance. His early research focused on the performance of European banks under their organizational models. Subsequently, he has examined on banking sector developments in emerging market economies, such as bank privatization and competition. His most recent research is concentrated on executive compensation in banking, the characteristics of bank directors, and their effects on firm performance outcomes, including the impact of corporate culture in banking.
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