Jan 2019
Author(s): Inter-American Development Bank (IDB)
Mobilizing resources is critical to the implementation of the 2030 Agenda and multilateral development banks in particular have been called upon to crowd-in additional financing for the Sustainable…
Mar 2018
Author(s): Hernández, Juan
Many emerging economies maintain significant positions in both external sovereign debt and foreign reserves, paying spreads of over 250 basis points on average. Arguments advanced in empirical work…
Feb 2017
Author(s): Alvarez, Roberto; Hansen, Erwin
This paper examines a panel (1994-2014) of Chilean non-financial firms, both publicly listed and private, which was built to analyze the determinants of the use of foreign currency debt and their…
Dec 2016
Author(s): Schmid, Juan Pedro
Jamaica entered the world economic downturn in 2008 from a position of ongoing weak economic performance and high, increasing debt levels. As a result, Jamaica's fiscal situation quickly became…
Dec 2016
Author(s): García-Cicco, Javier; Kawamura, Enrique
This paper empirically tests the effects of foreign currency debt on economic performance and investment behavior in non-financial firms in six Latin America and Caribbean countries. It is found find…
Oct 2016
Author(s): Barajas, Adolfo; Restrepo, Sergio; Steiner, Roberto; Medellín, Juan Camilo; Pabón, César
After building up foreign currency-denominated (FC) liabilities over several years, the balance sheets of Colombian firms might be particularly vulnerable to a shift in external conditions. This…
Sep 2016
Author(s): Perry, Guillermo; Auvert, Diego
This paper discusses financial integration issues in the Pacific Alliance. The Alliance seeks to attain free circulation of goods, services, capital and workers among its members (presently Chile,…
Aug 2016
Author(s): Beck, Thorsten
Theory and empirical work have shown that long-term finance is critical for households, firms and government and for the overall development of the economy. The development of efficient and…
Aug 2016
Author(s): Chang, Roberto; Fernandez, Andres; Gulan, Adam
Corporate sectors in emerging markets have noticeably increased their reliance on foreign financing, presumably reflecting low global interest rates. The evidence also shows a rebalancing from bank…
Aug 2016
Author(s): Caballero, Julián; Fernandez, Andres; Park, Jongho
This paper studies the influence of external financial factors on economic activity in emerging economies (EMEs) motivated by a considerable increase in foreign financing by the corporate sector in…
May 2016
Author(s): Caballero, Julián; Panizza, Ugo; Powell, Andrew
Recent work suggests non-financial firms have acted like financial intermediaries particularly in emerging economies. This paper corroborates these findings but then asks "why?" The results…
Apr 2016
Author(s): Chang, Roberto; Fernandez, Andres; Gulan, Adam
Corporate sectors in emerging market economies have increased noticeably their reliance on foreign financing, presumably reecting low global interest rates. This trend has largely reflected increased…
Apr 2016
Author(s): Levy Yeyati, Eduardo; Zúñiga, Jimena
Capital flows have been the subject of acute policy concern since the Brady plan launched the emerging markets bond asset class. Their massive volume, coupled with their volatile and procyclical…
Mar 2016
Author(s): Escobar Riaño, Carmen Dora
El presente estudio presenta una investigación del estado actual de la regulación de las Ofertas Públicas Primarias y los bonos en los cuatro países que conforman el Mercado Integrado Latinoamericano…
Dec 2013
Author(s): Office of Evaluation and Oversight
The importance of evaluation as a tool to promote learning and improve effectiveness has been extensively recognized in the Bank and reflected in the attention given to evaluability. As a consequence…
Dec 2013
Author(s): Oficina de Evaluación y Supervisión
La importancia de la evaluación como herramienta para promover el aprendizaje y mejorar la eficacia se ha reconocido ampliamente en el Banco y reflejado en la atención conferida a la evaluabilidad.…