Date of Award

Summer 8-6-2021

Degree Type

Dissertation-Restricted

Degree Name

Ph.D.

Degree Program

Financial Economics

Department

Economics and Finance

Major Professor

Krishnaswami, Sudha

Second Advisor

Lane, Walter

Third Advisor

Naka, Atsuyuki

Fourth Advisor

Mukherjee, Tarun

Abstract

This dissertation is entitled ’Financial Market Integration in Latin America" and consists of two empirical studies. The first chapter is called ’Financial Market Integration between Latin America and the US". This empirical analysis focuses on the comovement between the US and major Latin American countries around free trade agreements. The results show that comovement thus financial integration has increased after the trade agreements for all the countries except for Brazil. The studied sector indices show that countries that have a free trade agreement with the US showed an increase in integration among sectors. The second empirical study is called ’The Effects of the Latin American Integrated Market (MILA) on Firms’ Access to Capital and Ownership Concentration’. This study investigates the impact of the creation of a joint stock exchange between some of the Latin American countries and how this exchange has affected ownership concentration and financial constraints. The results show that ownership concentration decreased on the percentage of ownership on largest and 3 largest shareholders while ownership concentration increased for the 5, 7, and 10 largest shareholders after the creation of MILA. Financial constraints, on average, increased after the creation of MILA

Rights

The University of New Orleans and its agents retain the non-exclusive license to archive and make accessible this dissertation or thesis in whole or in part in all forms of media, now or hereafter known. The author retains all other ownership rights to the copyright of the thesis or dissertation.

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