The New Face of Latin America: Financial Flows, Markets and Institutions in the 1990s

The gains and difficulties Latin American countries face from financial market development and liberalisation have received much attention in current economic literature. Nevertheless, significant issues have received little or no attention, even though the success of these efforts depends upon them. The purpose of this article is to explore the benefits from open and developed – two words that are not necessarily synonymous – financial and capital markets in Latin America and possible important obstacles which will be faced in the remainder of the 1990s.