Construction of the financial stress index and determination of thresholds for macroeconomic vulnerabilities in dollarized countries
The global crisis caused by COVID-19 is a major problem in the globalized economy, and for developing countries, this generates greater uncertainty in different sectors of the economy. At the beginning of the health crisis, the annual GDP growth of the dollarized countries Ecuador, El Salvador and P...
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2021
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| author | Salazar, Saúl |
| author_facet | Salazar, Saúl |
| author_role | author |
| collection | Revista Cuestiones Económicas |
| dc.creator.none.fl_str_mv | Salazar, Saúl |
| dc.date.none.fl_str_mv | 2021-11-23 |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/370 10.47550/RCE/MEM/31.53 |
| dc.language.none.fl_str_mv | spa |
| dc.publisher.none.fl_str_mv | Banco Central del Ecuador |
| dc.relation.none.fl_str_mv | https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/370/271 |
| dc.rights.none.fl_str_mv | info:eu-repo/semantics/openAccess |
| dc.source.none.fl_str_mv | Cuestiones Económicas; Vol. 31 Núm. 3 (2021): Edición Especial: Memorias IV Encuentro Internacional de Economía EPN; Autor: Saúl Salazar 2697-3367 2697-3367 reponame:Revista Cuestiones Económicas instname:Banco Central del Ecuador instacron:BCE |
| dc.subject.none.fl_str_mv | Estrés Financiero Factores Dinámicos TVAR |
| dc.title.none.fl_str_mv | Construction of the financial stress index and determination of thresholds for macroeconomic vulnerabilities in dollarized countries Construcción del índice de estrés financiero y determinación de umbrales ante vulnerabilidades macroeconómicas en los países dolarizados |
| dc.type.none.fl_str_mv | info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Artículos de Investigación |
| description | The global crisis caused by COVID-19 is a major problem in the globalized economy, and for developing countries, this generates greater uncertainty in different sectors of the economy. At the beginning of the health crisis, the annual GDP growth of the dollarized countries Ecuador, El Salvador and Panama was -12.4%, -19.36%, -38.4% respectively due to several factors, among them, the stoppage of economic activity due to confinement (See Chart 1). This paralysis also affected the financial system of dollarized countries through the increase in default and the decrease in yield In this context, Miglietta & Venditti (2019) indicate that the development of indices capable of evaluating the stability or instability within the financial system are useful to make a comparison of the intensity of financial stress with historical episodes and can be related to the real sector of the economy of a country in order to take economic measures in time |
| eu_rights_str_mv | openAccess |
| format | article |
| id | REVCUESTEC_d6f15aeddc07a178abb913419a6a45df |
| identifier_str_mv | 10.47550/RCE/MEM/31.53 |
| instacron_str | BCE |
| institution | BCE |
| instname_str | Banco Central del Ecuador |
| language | spa |
| network_acronym_str | REVCUESTEC |
| network_name_str | Revista Cuestiones Económicas |
| oai_identifier_str | oai:estudioseconomicos.bce.fin.ec:article/370 |
| publishDate | 2021 |
| publisher.none.fl_str_mv | Banco Central del Ecuador |
| reponame_str | Revista Cuestiones Económicas |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | Revista Cuestiones Económicas - Banco Central del Ecuador |
| repository_id_str | |
| spelling | Construction of the financial stress index and determination of thresholds for macroeconomic vulnerabilities in dollarized countriesConstrucción del índice de estrés financiero y determinación de umbrales ante vulnerabilidades macroeconómicas en los países dolarizadosSalazar, Saúl Estrés FinancieroFactores DinámicosTVARThe global crisis caused by COVID-19 is a major problem in the globalized economy, and for developing countries, this generates greater uncertainty in different sectors of the economy. At the beginning of the health crisis, the annual GDP growth of the dollarized countries Ecuador, El Salvador and Panama was -12.4%, -19.36%, -38.4% respectively due to several factors, among them, the stoppage of economic activity due to confinement (See Chart 1). This paralysis also affected the financial system of dollarized countries through the increase in default and the decrease in yield In this context, Miglietta & Venditti (2019) indicate that the development of indices capable of evaluating the stability or instability within the financial system are useful to make a comparison of the intensity of financial stress with historical episodes and can be related to the real sector of the economy of a country in order to take economic measures in timeLa crisis mundial provocada por el COVID-19 es un problema importante en la economía globalizada, y para los países en desarrollo, esto genera mayor incertidumbre en los diferentes sectores de la economía. A inicios de la crisis sanitaria el crecimiento del PIB anual de los países dolarizados Ecuador, El Salvador y Panamá fue de -12,4%, -19,36%, -38,4% respectivamente debido a varios factores, entre ellos, la paralización de la actividad económica por el confinamiento (Ver Gráfico 1). Dicha paralización también afectó al sistema financiero de los países dolarizados a través del aumento de la mora y la disminución del rendimiento En este contexto, Miglietta & Venditti (2019) indican que el desarrollo de índices capaces de evaluar la estabilidad o inestabilidad dentro del sistema financiero son de utilidad para realizar una comparación de la intensidad del estrés financiero con los episodios históricos y pueda ser relacionado con el sector real de la economía de un país con el propósito de tomar medidas económicas a tiempoBanco Central del Ecuador2021-11-23info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArtículos de Investigaciónapplication/pdfhttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/37010.47550/RCE/MEM/31.53Cuestiones Económicas; Vol. 31 Núm. 3 (2021): Edición Especial: Memorias IV Encuentro Internacional de Economía EPN; Autor: Saúl Salazar2697-33672697-3367reponame:Revista Cuestiones Económicasinstname:Banco Central del Ecuadorinstacron:BCEspahttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/370/271info:eu-repo/semantics/openAccess2021-11-26T18:07:04Zoai:estudioseconomicos.bce.fin.ec:article/370Portal de revistashttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCEOrganismo de gobiernowww.bce.fin.echttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/oaiEcuadoropendoar:2021-11-26T18:07:04falsePortal de revistashttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCEOrganismo de gobiernowww.bce.fin.echttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/oaiEcuadoropendoar:2021-11-26T18:07:04Revista Cuestiones Económicas - Banco Central del Ecuadorfalse |
| spellingShingle | Construction of the financial stress index and determination of thresholds for macroeconomic vulnerabilities in dollarized countries Salazar, Saúl Estrés Financiero Factores Dinámicos TVAR |
| status_str | publishedVersion |
| title | Construction of the financial stress index and determination of thresholds for macroeconomic vulnerabilities in dollarized countries |
| title_full | Construction of the financial stress index and determination of thresholds for macroeconomic vulnerabilities in dollarized countries |
| title_fullStr | Construction of the financial stress index and determination of thresholds for macroeconomic vulnerabilities in dollarized countries |
| title_full_unstemmed | Construction of the financial stress index and determination of thresholds for macroeconomic vulnerabilities in dollarized countries |
| title_short | Construction of the financial stress index and determination of thresholds for macroeconomic vulnerabilities in dollarized countries |
| title_sort | Construction of the financial stress index and determination of thresholds for macroeconomic vulnerabilities in dollarized countries |
| topic | Estrés Financiero Factores Dinámicos TVAR |
| url | https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/370 |