JEL Code G: Financial Economics - 2006

Title Author Date Source Abstract
European Banks and their Impact on the Banking Industry in Chile and Brazil: 1862-1913. Briones, I. y A.Villela 2006 Working Paper 108, Oesterreichische Nationalbank. The history of foreign banks in Chile and Brazil in the late XIXth century and early XXth century is the history of British and German banks. Their penetration in both countries was significant, and not neutral in terms of its impact on the Chilean and Brazilian banking industry. In the main, we found that in both countries foreign banks appear to have had a positive effect at least in some of the dimensions identified by the current literature. However, the extent of this influence is different depending on the country. First, even if a formal banking industry emerged roughly simultaneously in both countries, foreign bank entry in Chile was a more recent phenomenon than in Brazil. Second, while from a financial point of view native and foreign banks in Chile behaved in a relatively similar fashion, in Brazil we observe differences, although a tendency towards convergence was observable by the eve of WWI.
Factores Macroeconómicos en Rendimientos Accionarios Chilenos. Fuentes, R., J. Gregoire y S. Zurita 2006 El Trimestre Económico 73, Nº 289: 126-38.
Measuring Security Price Performance Using Chilean Daily Stock Returns: The Event Study Method. Saens, R. y E. Sandoval 2006 Cuadernos de Economía 42, N° 126: 307-28.
Access to Finance by Chilean Corporations. Sirtaine, S. 2006 World Bank Policy Research Working Paper N°3845. The author assesses the extent to which Chilean firms have access to sufficient and adequate sources of funds. Access to finance has become an important issue for policymakers in Latin America. Small and medium enterprises (SMEs), in particular, complain that their lack of access to adequate sources of financing is an obstacle to their growth. Chile represents an interesting case study since it has one of the most developed financial markets in the continent, and thus great potential for using products suited to the needs and risk characteristics of SMEs. The author concludes that the largest firms have access to the whole range of financial instruments available in Chile. All smaller firms face financing constraints. She then analyzes the obstacles to downsizing access to the capital market and further increasing the penetration of banks in smaller segments.