Subregional Financial Cooperation The Experiences of Latin America and the Caribbean

• Published in: Regional Financial Cooperation p. 200
• Main Author: DANIEL TITELMAN
• Format: Book Chapter
• Language: English
• Published: United States Brookings Institution Press and Economic Commission for Latin America and the Caribbean (ECLAC) 29-08-2007; Brookings Institution Press
• Subjects: Bank loans; Banking; Banks; Business; Business economics; Central banks; Commercial production; Countries; Development banks; Development studies; Domestic product; Economic disciplines; Economic resources; Economics; Finance; Financial economics; Financial instruments; Financial investments; Gross domestic product; Human geography; International cooperation; International economic cooperation; International finance; International politics; International relations; Loan financing; Loans; Political geography; Political science; Politics; Production factors; Production output; Production resources; Social sciences; World Bank
• ISBN: 9780815764199; 0815764197

The countries of Latin America and the Caribbean have made significant progress in building a system of institutions for financial cooperation and integration. In addition to promoting productive and social investment financing via development banks, another aim of financial integration has been to facilitate intraregional trade and help finance the countries’ short-term liquidity needs.
The foreign debt crisis of the 1980s undermined regional financial cooperation and integration, except among the institutions covering the countries of the Andean Community, which were more dynamic during the 1980s crisis. Starting in the 1990s, there was a revival in financial integration schemes. Indeed, in