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Financiarización subordinada y emisión de títulos de deuda en América Latina: las experiencias de Argentina, México y Brasil

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  • Villavicencio, Giovanni

    (Universidad Nacional Autónoma de México)

Abstract

This paper analyzes debt securitization in underdeveloped countries, using the case of Argentina, Mexico, and Brazil. We argue that the three countries have had a significant increase in the issuance of debt securities. However, the nature of the securities issued is different in each nation. In the case of Argentina, the increase in international debt securities in circulation has to do with the issuance of government securities. In Mexico, the increase is more related to the new financing needs of Mexican non-financial corporations. While in Brazil, the increase in the issuance of debt securities is due to a combination of both factors.

Suggested Citation

  • Villavicencio, Giovanni, 2021. "Financiarización subordinada y emisión de títulos de deuda en América Latina: las experiencias de Argentina, México y Brasil," El Trimestre Económico, Fondo de Cultura Económica, vol. 88(349), pages 181-200, enero-mar.
    • Handle: RePEc:elt:journl:v:88:y:2021:i:349:p:181-200
    DOI: https://doi.org/10.20430/ete.v88i349.966
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    More about this item

    Keywords

    Structures; stagnation; deindustrialization; volatility; income inequality; Latin America.;
    All these keywords.

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean

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