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Capital Access: Mexico Improves

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Mexico improves most, Venezuela worsens most. Chile remains the best and Haiti the worst.

BY CHRONICLE STAFF

Capital access for entrepreneurs in Latin America has declined, according to the latest Capital Access Index from the Milken Institute.

"Latin American countries clustered in a similar range with unimpressive performance, which reflects the region’s structural reliance on government bonds, limiting the development of the corporate bond sector," the institute said in a statement today.

Latin America's 19 countries had an average score of 4.26 points in the 2007 index, a decline from 4.31 points in the 2006 index, according to a Latin Business Chronicle analysis.

The index, which ranks countries around the world in terms of their ability to support entrepreneurial activity by providing access to capital, looks at seven key factors:

  • Macroeconomic environment,
  • Institutional environment
  • Financial and banking institutions,
  • The development of the equity markets,
  • The development of the bond markets
  • Alternative capital sources (such as venture capital, credit cards and private placements—all of which are increasingly important in emerging markets) and
  • International funding.

Chile remains the best country for entrepreneurs to access capital, while Haiti is again ranked as the worst place in Latin America.

Chile's score declined by 0.13 points to 6.32, but the South American...

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Keywords: ALBA, Andean Community, Brazil, CAFTA, Dominican Republic, Ecuador, Haiti, Mercosur, Panama, Paraguay, Peru, Uruguay, Venezuela

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