INVESTIGADORES
FERNANDEZ ALONSO Jose Marcelino
capítulos de libros
Título:
The changing problem of regional development finance in Latin America
Autor/es:
STANLEY, LEONARDO; FERNÁNDEZ ALONSO, JOSÉ
Libro:
Regionalism, Development and Post-Commodities Boom in South America: Analyses about the Unequal South
Editorial:
Palgrave Macmillan
Referencias:
Lugar: Hampshire; Año: 2016; p. 101 - 120
Resumen:
By the turn of XXI Century, Latin American countries -South American ones, specially- were benefited by a ?commodity boom?, all of which brought vast political and economical adjustments. One of the issues the mentioned process came to alter was development financing, as economies were lift now from constraints imposed in the past.In effect, during the surge of commodity prices, South American governments envisioned a new type of development financing paradigm -at least the major part of them-, based on an ?endogenous? and/or ?autonomist? perspective. In this context, domestic resources and soaring prices masked the relevance of development financing institutions, including those being recently founded.Additionally, the rise of the People´s Republic of China (PRC) as an emerging power provided new resources to the sub-region countries. Far from the traditional conditionalities required by International Financial Institutions (IFI), South American countries welcomed the freedom granted by the ?new banker on the town?.Financing necessities were unconsidered during the apogee of these international processes. However, the downturn of commodity prices, the deceleration of Chinese economy and the persistence of low savings ratio reported during the last years re-installed the issue of development financing gaps in policy-maker circles. In this new scenery, it has surged a debate regarding the challenges of development financing in a changing international economy order.This chapter aims to evaluate the old and new challenges imposed by external development financing. Specifically, the work analyses in an historical perspective the conditionalities that South American countries had -and have- to cope with in order to access to external development financing.
