Latinamerica fare better (Kamil and Rai)

The global credit crunch and foreign banks’ lending to emerging markets: why did Latin America fare better by Herman Kamil and Kulwant Rai. The recent global financial turmoil raised questions about the stability of foreign banks’ financing to emerging market countries. The empirical results of this paper suggest that the negative impact of the financial crisis on foreign banks’ lending to Latin America and the Caribbean has been cushioned by the specific nature of foreign banks’s operations in the region.