This chapter includes the following articles.
Capital Markets
Panama’s capital markets are highly internationalised, with the financial stability of a dollarised economy helping attract global firms looking to expand their Latin American footprint. Though the country has already established itself as a regional banking hub, Panama’s non-bank financial sector still has room to grow. While insurance sector assets nearly tripled in the decade to 2013, from $704.2m to $2.05bn, their share of GDP remained virtually unchanged, at 5-5.5%. Similarly, the total market capitalisation of the Panama Stock Exchange stood at $13.44bn at end-2013, equivalent to 33.3% of GDP, down from 42.8% in 2005 and 36.3% in 2010, and still below the 46.7% recorded on Brazil’s BOVESPA. Panama’s financial markets are expected to benefit from continued growth in 2015 with reasonably low inflation, as efforts toward greater transparency, efficiency and global integration continue.
This chapter contains interviews with Felipe Chapman, President, Bolsa de Valores de Panamá; and Jorge Vallarino Miranda, Executive Vice-President, Global Bank.
