This article summarizes a 2007 conference that explored the nature and implications of major transformations in Latin American financial markets, such as the shift from cross-border to domestic financing and the development of domestic bond markets.

This paper analyzes the unprecedented resilience of Latin American countries to the global financial crisis. It argues that sound macroeconomic conditions, which allowed an unusual monetary and fiscal expansion, exchange rate flexibility, a strong and well--regulated financial system, high level...