Ancla Cambiaria y Crisis Financieras en América Latina
This paper analyzes the effecis of financial reforms on an economy that relies on the exchange rate anchor by sketching four stages in the post-stabilization period as they relate to the banking system. It shows that the use of the exchange rate nominal anchor in conjunction with premature tiberaliz...
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| Aineistotyyppi: | article |
| Kieli: | spa |
| Julkaistu: |
2000
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| Aiheet: | |
| Linkit: | https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/191 |
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Lisää tagi | Yhteenveto: | This paper analyzes the effecis of financial reforms on an economy that relies on the exchange rate anchor by sketching four stages in the post-stabilization period as they relate to the banking system. It shows that the use of the exchange rate nominal anchor in conjunction with premature tiberalization of a poorly regulated and loosely supervised banking system creates macroeconomic dynamics that increase the likelihoad of a banking crisis. It then applies these stylized facts to explain banking crises in Argentina, Brazil, Chile, Ecuador and Mexico in the light of the main proposition of the paper. |
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