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Western Hemisphere > Argentina

You are looking at 1 - 5 of 5 items for :

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Cover IMF Working Papers
Bank Ownership: Trends and Implications
Robert Cull
,
Mr. Maria Soledad Martinez Peria
, and
Jeanne Verrier
This paper presents recent trends in bank ownership across countries and summarizes the evidence regarding the implications of bank ownership structure for bank performance and competition, financial stability, and access to finance. The evidence reviewed suggests that foreign-owned banks are more efficient than domestic banks in developing countries, promote competition in host banking sectors, and help stabilize credit when host countries face idiosyncratic shocks. But there are tradeoffs, since foreign-owned banks can transmit external shocks and might not always expand access to credit. The record on the impact of government bank ownership suggests few benefits, especially for developing countries.
Keywords:
WP; bank ownership; government-owned bank; bank participation; foreign bank; government bank lending; ownership structure; bank governance; financial globalization; foreign banks; state-owned banks; privatization; government ownership; bank share; government bank participation; Commercial banks; Bank credit; Credit; Competition; Central and Eastern Europe; South Asia; Eastern Europe; Global; Central Asia
Cover IMF Working Papers
Being a Foreigner Among Domestic Banks: Asset or Liability?
Neeltje van Horen
and
Mr. Stijn Claessens
Studying a large number of banks in various countries between 1999 and 2006, we document that foreign banks perform better when from a high income country, when host country competition is limited, and when they are large and rely more on deposits for funding. Foreign banks' performance improves over time, possibly as they adapt, and is better when the home country is geographical or cultural (but not institutional) close to the host country. These findings show the importance of controlling for heterogeneity among foreign banks and help reconcile some contradictory results found in the literature on foreign banks' performance.
Keywords:
WP; foreign bank; domestic bank; bank characteristic; bank performance; bank activity
Cover IMF Working Papers
Consolidation and Market Structure in Emerging Market Banking Systems
Mr. R. G Gelos
and
Mr. Jorge Roldos
This paper examines the evolution of market structure in emerging market banking systems during the 1990s. While significant bank consolidation has been taking place in these countries, reflected in a sharp decline in the number of banks, this process has not systematically been associated with increased concentration as measured by standard indices. Moreover, econometric estimates based on the Panzar-Rosse (1987) methodology suggest that, overall, markets have not become less competitive in a sample of eight European and Latin American countries. Lowering barriers to entry, by doing such things as allowing increased participation of foreign banks, appears to have prevented a decline in competitive pressures associated with consolidation.
Keywords:
WP; bank; private bank; HH indices; number; consolidation process; Banco de Chile; bank consolidation; bank penetration; market power; Emerging and frontier financial markets; Competition; Commercial banks; Foreign banks; State-owned banks; Europe; banking SystemsConsolidation; Banking; market structure; emerging markets; Panzar and Rosse methodology; contestability; Asia and Pacific
Cover IMF Working Papers
How Intensive Is Competition in the Emerging Markets? An Analysis of Corporate Rates of Return from Nine Emerging Markets
Ajit Singh
,
Mr. Rudolph Matthias
, and
Mr. Jack D. Glen
This large empirical study of corporate profitability in emerging markets during the 1980s and 1990s measures the intensity of competition. Data on corporate rates of return, profit margins, and output-capital ratios reveal that the recent liberalization has been associated with reduced corporate profit margins and improved capital utilization efficiency. The paper also analyzes persistency in corporate profitability and finds that competitiveness was no less intense in developing countries than in advanced countries. Although the paper is not directly concerned with the Asian crisis, it provides evidence on important structural hypotheses about the crisis.
Keywords:
WP; liberalization firm; firm's earnings; developing country; market share; Corporate Rates of Return; Intensity of Competition; Emerging Markets; Peruvian cement company; time series; textile company; ith firm; regression coefficient; return on assets; Competition; Capital adequacy requirements; Emerging and frontier financial markets; Business enterprises; Manufacturing; East Asia
Cover IMF Working Papers
Competitiveness and the Evolution of the Real Exchange Rate in Chile
Ms. Martine Guerguil
and
Mr. Martin D Kaufman
This paper reviews the evolution of certain price and nonprice competitiveness indicators in Chile and concludes that the pecuniary loss of competitiveness associated with the appreciation of the peso since the late 1980s has been broadly offset by productivity gains and adjustments in factor intensity, particularly in the manufacturing sector. However, there may be limited room for further advances from that point, which gives new prominence to certain policy issues such as structural reforms to increase productivity, a reassessment of the tax treatment of the mining sector, and a rebalancing of the macroeconomic policy mix to dampen speculative capital inflows.
Keywords:
WP; exchange rate; appreciation; market share; competitiveness; Chile; productivity; Balassa effect; productivity gain; RER appreciation; factor endowment; appreciation effect; export market shares; competitiveness indicator; Exports; Real effective exchange rates; Competition; Currencies; export share; unit Labor; decreasing returns; Real exchange rates; Exchange rates; Caribbean