British Direct and Portfolio Investment in Latin America Before 1914

1977 ◽  
Vol 37 (3) ◽  
pp. 690-722 ◽  
Author(s):  
Irving Stone
Keyword(s):  
Latin America ◽  
Latin American ◽  
Capital Market ◽  
Private Investment ◽  
Portfolio Investment ◽  
Factors Associated ◽  
Portfolio Composition ◽  
Total Investment ◽  
Major Factors ◽  
The Capital Market

This article aims to determine what changes occurred in Britain's control over its Latin American investments between 1865 and 1913. This is done by examining trends in the direct-portfolio composition of total investment and of private investment, as well as that of each industrial grouping. A major finding is the rise of British private portfolio investment. Differences in the capital market instruments used in each type of investment are analyzed as is the nationality of those controlling private portfolio investment. Finally, there is an assessment of major factors associated with the rise of the private portfolio component of investment.

scholarly journals Terrorism and Latin-American Stocks Markets

2019 ◽  
Vol 14 (PNEA) ◽  
pp. 583-599
Author(s):  
Nicolás S. Magner ◽  
Cinthia K. Roa
Keyword(s):  
Latin American ◽  
Capital Market ◽  
Abnormal Returns ◽  
Market Model ◽  
Terrorist Attacks ◽  
Wide Range ◽  
The Us ◽  
Latin American Countries ◽  
Terrorist Events ◽  
The Capital Market

This paper investigates the effects of major terrorist attacks of the last 20 years on a set of stocks listed at Latin-American stock markets. Utilizing the capital market model, we calculate abnormal returns during the day of the terror attacks for 115 stocks listed in 6 Latin-American countries. In this sense, we appreciate different reaction between countries, where Brazil, Peru, and Chile have a significant market reaction of terrorism. These results promote international diversification and the use of this loss to avoid significant capital losses. However, the results are limited by the validity of the capital market model. This paper has important implications for international investors and their investment risk management strategies. Despite the frequency of terrorist events, this is the first work that addresses a wide range of these in Latin American countries. The main conclusion is that there is a negative effect of terrorist events on Latin American markets, but this effect is mixed; there is a negative and significant impact of the US terrorist attacks and a weak and non-significant effect when the attacks occur outside the US.

scholarly journals Explaining Latin America's persistent defaults: an analysis of the debtor–creditor relations in London, 1822–1914

2020 ◽  
Vol 27 (3) ◽  
pp. 319-339
Author(s):  
Juan Flores Zendejas
Keyword(s):  
Nineteenth Century ◽  
Latin American ◽  
Capital Market ◽  
Stock Exchange ◽  
Regulatory Framework ◽  
Supply Side ◽  
London Stock Exchange ◽  
Supply Side Factors ◽  
The Capital Market

This article analyses the reasons why most Latin American governments frequently defaulted on their debts during the nineteenth century. Contrary to previous works, which focused on domestic factors, I argue that supply-side factors were equally important. The regulatory framework at the London Stock Exchange prevented defaulting governments from having access to the capital market. Therefore, the implicit incentive for underwriting banks and governments was to accelerate negotiations with bondholders, particularly during periods of high liquidity. Frequently, however, settlements were short-lived. In contrast, certain merchant banks opted to delay or refuse a settlement if they judged that the risk of a renewed default was too high. In such cases, even if negotiations were extended, the final agreements were more often respected, allowing governments to improve their repayment record.

scholarly journals Investment Cash Flow Sensitivity and Tobin’s Q: The Case of Advanced Emerging Markets in Latin America

2020 ◽  
Vol 13 (1) ◽  
pp. 89
Author(s):  
Bruno Figlioli ◽  
Fabiano Guasti Lima
Keyword(s):  
Cash Flow ◽  
Latin American ◽  
Capital Market ◽  
Relevant Information ◽  
Cash Flows ◽  
Corporate Investments ◽  
Flow Sensitivity ◽  
Cash Flow Sensitivity ◽  
Internal Generation ◽  
The Capital Market

This paper examines whether the capital market and the internal generation of cash flows bring relevant information to decisions on corporate investments. For this investigation, we used data from 255 companies located in four Latin American (LA) countries: Brazil, Chile, Mexico and Peru (BCMP countries). The analysis period is from 2000 to 2017. The results indicate that cash flow represents one of the main drivers of corporate investments. In contrast, there were no indications that the capital market translates into a mechanism for transmitting useful information to firm managers about investments. Other drivers of value identified are associated with sales, cash and cash equivalents, and asset tangibility.

scholarly journals FOREIGN PORTFOLIO INVESTMENT AND CAPITAL MARKET DEVELOPMENT IN NIGERIA

2021 ◽  
Vol 4 (2) ◽  
pp. 52-65
Author(s):  
Oladotun Mabinuori ◽  
◽  
Bibiana Njogo ◽  
Oladele Jaiyeoba ◽  
◽  
...  
Keyword(s):  
Exchange Rate ◽  
Stock Market ◽  
Central Bank ◽  
Capital Market ◽  
Market Performance ◽  
Portfolio Investment ◽  
Foreign Portfolio Investment ◽  
Market Capitalization ◽  
The Capital Market ◽  
Stock Market Capitalization

The poor performance of Nigeria’s stock market is a source of concern and has generated contentious debates among the stakeholders in the Nigerian Stock Exchange Market (NSE). This study investigates the impact of foreign portfolio investment on the performance of the stock market in Nigeria for the period of 30years (1989-2018). Secondary and time-series data were used and the variables such as; stock market capitalization proxy for capital market performance, portfolio investment, exchange rate and inflation rate were sourced from the Central Bank of Nigeria (CBN) statistical bulletin, 2019 To avoid spurious results, unit-root test and regression analysis were used as the tools of data analysis. Findings show that all the predictors have no significant impact on stock market capitalization except the exchange rate that is statistically significant at 5% critical value. However, the f-statistic results (18.83660) indicate that the combine variables have a significant impact on stock market performance in Nigeria. It was therefore concluded that foreign portfolio investment if properly encouraged serve as a Potent variaable for enhancing the performance of the stock market in Nigeria. The study recommends that, there is a need for the government through the central bank of Nigeria to implement a policies that will increase the level and size of market capitalization in the capital market. Such an increase in the capital market will provide the necessary funds for investors for further investments thereby increasing productivity in Nigeria.

Institutional Investors on the Securities Market

2003 ◽  
pp. 95-101
Author(s):  
O. Khmyz
Keyword(s):  
Financial Crisis ◽  
Capital Market ◽  
Hedge Funds ◽  
Institutional Investors ◽  
Securities Market ◽  
Main Role ◽  
Investment Funds ◽  
Investment Process ◽  
The Capital Market

Acording to the author's opinion, institutional investors (from many participants of the capital market) play the main role, especially investment funds. They supply to small-sized investors special investment services, which allow them to participate in the investment process. However excessive institutialization and increasing number of hedge-funds may lead to financial crisis.

Migration vs. development? The case of poverty and inequality in Mexico

2012 ◽  
Vol 9 (1) ◽  
pp. 65-74 ◽  
Author(s):  
Agustín Escobar Latapi
Keyword(s):  
Latin America ◽  
International Migration ◽  
Latin American ◽  
Opportunity Cost ◽  
Inequality Index ◽  
Poverty And Inequality ◽  
And Migration

Although the migration – development nexus is widely recognized as a complex one, it is generally thought that there is a relationship between poverty and emigration, and that remittances lessen inequality. On the basis of Latin American and Mexican data, this chapter intends to show that for Mexico, the exchange of migrants for remittances is among the lowest in Latin America, that extreme poor Mexicans don't migrate although the moderately poor do, that remittances have a small, non-significant impact on the most widely used inequality index of all households and a very large one on the inequality index of remittance-receiving households, and finally that, to Mexican households, the opportunity cost of international migration is higher than remittance income. In summary, there is a relationship between poverty and migration (and vice versa), but this relationship is far from linear, and in some respects may be a perverse one for Mexico and for Mexican households.

Palestinian Diaspora Communities in Latin America and Palestinian Statehood

2020 ◽  
Vol 19 (1) ◽  
pp. 101-120
Author(s):  
Yousef M. Aljamal ◽  
Philipp O. Amour
Keyword(s):  
Latin America ◽  
South America ◽  
Latin American ◽  
Economic Life ◽  
Self Determination ◽  
The Political ◽  
Middle Classes ◽  
Latin Americans ◽  
Political Views ◽  
The Right

There are some 700,000 Latin Americans of Palestinian origin, living in fourteen countries of South America. In particular, Palestinian diaspora communities have a considerable presence in Chile, Honduras, and El Salvador. Many members of these communities belong to the professional middle classes, a situation which enables them to play a prominent role in the political and economic life of their countries. The article explores the evolving attitudes of Latin American Palestinians towards the issue of Palestinian statehood. It shows the growing involvement of these communities in Palestinian affairs and their contribution in recent years towards the wide recognition of Palestinian rights — including the right to self-determination and statehood — in Latin America. But the political views of members of these communities also differ considerably about the form and substance of a Palestinian statehood and on the issue of a two-states versus one-state solution.

Sorting Out the Mixed Economy

2019 ◽  
Author(s):  
Amy C. Offner
Keyword(s):  
Latin America ◽  
Latin American ◽  
New Deal ◽  
The United States ◽  
Business Associations ◽  
Welfare Programs ◽  
The Road ◽  
Social Welfare Programs ◽  
The Third World ◽  
The New Deal

In the years after 1945, a flood of U.S. advisors swept into Latin America with dreams of building a new economic order and lifting the Third World out of poverty. These businessmen, economists, community workers, and architects went south with the gospel of the New Deal on their lips, but Latin American realities soon revealed unexpected possibilities within the New Deal itself. In Colombia, Latin Americans and U.S. advisors ended up decentralizing the state, privatizing public functions, and launching austere social welfare programs. By the 1960s, they had remade the country's housing projects, river valleys, and universities. They had also generated new lessons for the United States itself. When the Johnson administration launched the War on Poverty, U.S. social movements, business associations, and government agencies all promised to repatriate the lessons of development, and they did so by multiplying the uses of austerity and for-profit contracting within their own welfare state. A decade later, ascendant right-wing movements seeking to dismantle the midcentury state did not need to reach for entirely new ideas: they redeployed policies already at hand. This book brings readers to Colombia and back, showing the entanglement of American societies and the contradictory promises of midcentury statebuilding. The untold story of how the road from the New Deal to the Great Society ran through Latin America, the book also offers a surprising new account of the origins of neoliberalism.

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