Capítulo de Libro
Climate change, monetary policy, and green finance in Latin America: the open economy dimension
Título del libro: Monetary Policy Challenges in Latin America
Fecha de publicación:
2023
Editorial:
Edward Elgar Publishing
ISBN:
9781802200690
Idioma:
Inglés
Clasificación temática:
Resumen
Thechapter reviews the alternatives available to Emerging Market Economies (EMEs)to finance investment required to mitigate and adapt to climate change. It alsotakes into account the financial needs to achieve the Sustainable DevelopmentGoals (SDGs). Since the requirements dwarfs the financial capabilities of thepublic sector in EMEs, we explore possible funding channels focusing oninternational financial markets. We identify potential obstacles to a smoothand sustainable finance provision, including the influence of the globalfinancial cycle on credit supply, risks related to currency mismatch andcreditworthiness assessment, and mispricing of risks. The review alsoidentifies the challenges to the exporting profile and therefore thesustainability of the balance of payments of EMEs. Finally, we provide somereflections on the limits of domestic private capital markets to bridge the“environmental financial gap”, and calls for the deeper involvement ofspecialized and official financial institutions.
Palabras clave:
GREEN FINANCE
,
GREEN MONETARY POLICY
,
CLIMATE CHANGE
,
LATIN AMERICA
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Citación
Bortz, Pablo Gabriel; Toftum, Barbara Nicole; Climate change, monetary policy, and green finance in Latin America: the open economy dimension; Edward Elgar Publishing; 2023; 169-184
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