Capital Market x Latin America (Torre et ali)

Capital market development: whither Latin America? by Augusto de la Torre, Juan C. Gozzi and Sergio L. Schmukler published by World Bank. “This paper analyzes where Latin American capital markets stand after these reforms. We find that despite the intense reform effort, capital markets in Latin America remain underdeveloped relative to markets in others regions. Furthermore, stock markets are below that can be expected, given Latin America´s economic and institutional fundamentals.”