Non-bank financial intermediaries in Latin America: Shadow Banking?

The aim of this study is to provide data on and an analysis of Shadow Banking (SB) in a heterogeneous group of nine Latin American countries. It is concluded that in these economies, the nature of SB is different from that in developed economies. While securitisation activities are performed in some of these countries, they are relatively limited in scope. SB in these economies could be linked to certain financial inclusion institutions with a regulatory framework that is either non-existent or more lax than that which exists for banking institutions. (C) 2015 Asociacion Cuadernos de Economia. Published by Elsevier Espana, S.L.U. All rights reserved.