By Michael Fitzgerald and Taisa Markus, Partners, Milbank, Tweed, Hadley & McCloy LLP
Despite recent ups and downs related to the global credit crisis, Latin American equity capital markets have grown explosively in the last two decades. There is a strong sense that Latin American equity capital markets are in the process of decoupling from U.S. financial markets even if regional economies remain to a great degree affected by the U.S. economy.
There are a number of events and developments that have come together to support this trend. Growing economic liberalization and sound fiscal and monetary policies in most countries in the region, the economic expansion in the region, globalization, the emergence of China and other Asian economies as important trading partners in addition to the United States, the recent run up in commodity prices, relative political stability and an improved regulatory climate are perhaps the most important...
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