Latin America's access to international capital markets: good behavior or global liquidity?

Latin America has had an active presence in international markets since independence in the early nineteenth century. Participation has been quite volatile, though. International borrowing financed the wars of independence in the early 1800s, but the boom that started in 1822 with a loan to Colombia...

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Autores principales:	Fostel, Ana, Graciela Laura, Kaminsky
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	MERCADO INTERNACIONAL PRÉSTAMOS INTERNACIONALES MERCADO DE CAPITALES LIQUIDEZ (ECONOMÍA)
Acceso en línea:	https://hdl.handle.net/20.500.12580/3734
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spelling	oai-20.500.12580-37342021-04-24T11:01:14Z Latin America's access to international capital markets: good behavior or global liquidity? Fostel, Ana Graciela Laura, Kaminsky MERCADO INTERNACIONAL PRÉSTAMOS INTERNACIONALES MERCADO DE CAPITALES LIQUIDEZ (ECONOMÍA) Latin America has had an active presence in international markets since independence in the early nineteenth century. Participation has been quite volatile, though. International borrowing financed the wars of independence in the early 1800s, but the boom that started in 1822 with a loan to Colombia ended in 1826 with Peru’s default. Other periods of marked expansion in international borrowing occurred in 1867–72, 1893–1913, and 1920–29. As in the 1820s, most of these episodes ended with defaults. International capital markets all but disappeared following the crisis of the 1930s, with Latin America becoming unable to borrow again. Only in the 1970s did Latin America start to participate once more in international capital markets, with capital inflows reaching US$51 billion in 1981. However, when Mexico defaulted in 1982, all Latin American countries lost access to international capital markets. 2019-11-01T00:04:02Z 2019-11-01T00:04:02Z 2008 Artículo 978-956-7421-30-5 https://hdl.handle.net/20.500.12580/3734 eng Series on Central Banking, Analysis, and Economic Policies, no. 12 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 117-158 application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	MERCADO INTERNACIONAL PRÉSTAMOS INTERNACIONALES MERCADO DE CAPITALES LIQUIDEZ (ECONOMÍA)
spellingShingle	MERCADO INTERNACIONAL PRÉSTAMOS INTERNACIONALES MERCADO DE CAPITALES LIQUIDEZ (ECONOMÍA) Fostel, Ana Graciela Laura, Kaminsky Latin America's access to international capital markets: good behavior or global liquidity?
description	Latin America has had an active presence in international markets since independence in the early nineteenth century. Participation has been quite volatile, though. International borrowing financed the wars of independence in the early 1800s, but the boom that started in 1822 with a loan to Colombia ended in 1826 with Peru’s default. Other periods of marked expansion in international borrowing occurred in 1867–72, 1893–1913, and 1920–29. As in the 1820s, most of these episodes ended with defaults. International capital markets all but disappeared following the crisis of the 1930s, with Latin America becoming unable to borrow again. Only in the 1970s did Latin America start to participate once more in international capital markets, with capital inflows reaching US$51 billion in 1981. However, when Mexico defaulted in 1982, all Latin American countries lost access to international capital markets.
format	Artículo
author	Fostel, Ana Graciela Laura, Kaminsky
author_facet	Fostel, Ana Graciela Laura, Kaminsky
author_sort	Fostel, Ana
title	Latin America's access to international capital markets: good behavior or global liquidity?
title_short	Latin America's access to international capital markets: good behavior or global liquidity?
title_full	Latin America's access to international capital markets: good behavior or global liquidity?
title_fullStr	Latin America's access to international capital markets: good behavior or global liquidity?
title_full_unstemmed	Latin America's access to international capital markets: good behavior or global liquidity?
title_sort	latin america's access to international capital markets: good behavior or global liquidity?
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3734
work_keys_str_mv	AT fostelana latinamericasaccesstointernationalcapitalmarketsgoodbehaviororgloballiquidity AT gracielalaurakaminsky latinamericasaccesstointernationalcapitalmarketsgoodbehaviororgloballiquidity
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Latin America's access to international capital markets: good behavior or global liquidity?

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