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In Latin America, the development of sovereign investment institutions, which can complement the work of finance ministries and central banks in managing state assets, has been somewhat slow. These institutions are key to ensuring macroeconomic stability, saving for future generations, and promoting strategic national development.
This paper investigates the relationship between depreciation and default risks in five key Latin American markets—Brazil, Chile, Colombia, Peru, and Mexico—in response to shifts in the US yield curve slope. Excluding serial defaulters like Argentina, our focus lies on countries still susceptible to the Twin Ds phenomenon amidst high debt levels.
This study utilizes weekly datasets on loan growth in Colombia to develop a daily indicator of credit expansion using a two-step machine learning approach. Initially, employing Random Forests (RF), missing data in the raw credit indicator is filled using high frequency indicators like spreads, interest rates, and stock market returns.
This document delves into the dynamics of financial inclusion and the adoption of digital payment systems in Latin America, focusing on the role of financial education and positive beliefs about cash.
The objective of this working paper was to examine the effect of climate uncertainty shocks on the distribution of economic growth rates across Latin American and Caribbean countries from 1970 to 2022. It provides novel indicators for volatility, asymmetry, and kurtosis shocks based on daily temperature data at the country level.
This blog post goes through our recent research, which explores how shifts in the US term spread influence these twin risks—default and depreciation—in five key Latin American markets: Brazil, Chile, Colombia, Peru, and Mexico.
To date, in 2024, the economy of Latin America has continued its macroeconomic adjustment process; the GDP growth is lower than that in 2023, which is accompanied by a decline in the current account deficit of the balance of payments and inflation
FLARblog | Climate Growth at Risk in the Global South: Evaluating the role of asymmetric effects in Latin America and the Caribbean In light of increasing climate uncertainty, it is crucial to understand its economic impacts. This blog post, based on our recent research, explores the asymmetric effects of climate-related shocks on economic growth in […]
FLAR contributes to the well-being of Latin America and the Caribbean by promoting macroeconomic and financial stability in the region.