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The paper examines the consequences of the deficiencies in the legal protection of creditors' rights and the low efficiency of judicial enforcement on the functioning of credit markets in Paraguay, as well as the solutions developed to compensate for the informality and enforcement flaws of financial contracts.
This paper provides an overview of the reserve requirement measures undertaken by the Central Bank of Peru. It provides a rationale for the use of these instruments as well as empirical evidence of their effectiveness. In general, the results show that tightening reserve requirements has the desired effects on interest rates and credit levels at both banks and smaller financial institutions (cajas ... (View publication)
What happens to firms in the face of financial crises? Little research has been done on the microeconomic implications of financial policies and crises while attention has been focused on the macroeconomic effects of these events. This book attempts to fill this research gap. Credit Constraints and Investment in Latin America contains new evidence on the nature, extent, evolution and consequences ... (View publication)
What are the sources of structural volatility in Latin America? To address this question, Macroeconomic Volatility in Reformed Latin America focuses on the factors responsible for macroeconomic instability in three Latin American economies: Argentina, Mexico, and Chile. It finds that volatility in these countries can largely be traced to two critical weaknesses: weak links with international finan ... (View publication)
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