Capital Markets Integration in Latin America: Where the future is? Ernani Teixeira Torres Filho 1 . Luiz Macahyba 2 . Norberto Montani Martins 3 . Working Paper Rio de Janeiro May, 2016 1 Professor at the Institute of Economics of the Federal University of Rio de Janeiro (UFRJ). PhD in Economics UFRJ 2 Economist and Private Consultant 3 MSc in Economics UFRJ