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Financial reforms are transforming the resource allocation process and spurring economic growth in several key Latin American countries.

There has been debate and skepticism about the finance-driven growth of the world economy. The new regulation will, I hope, restrain the power of financial wealth creation without repressing it more than necessary. The difficult task we face now is to prevent excesses while fostering the recovery and renewal of the financial services business.

Financial expansion has been beneficial in many emerging countries and the financial collapses that used to plague those countries have become much less frequent because they have learned how to set up a financial system that performs at least some of roles correctly.

Contact:
Tomasso Hall 212
edmunds@babson.edu
781-239-5578

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