The Latin American banking sector has undergone a transformation in recent years because of changes in regulation and globalization as well as developments in telecommunications and information technology. A very important example of this has been financial liberalization wherein Latin America...

Since Lėon Walras neoclassical economists hold an inalterable belief in a unique and stable equilibrium for the economic system which however remains to this day unobservable. Yet that belief is the corner stone of other theories such as the "Efficient Market Hypothesis" as well as the...