Cover IMF Working Papers
Banking Crises in Latin America in the 1990's: Lessons From Argentina, Paraguay, and Venezuela
Author: Ms. Alicia García-Herrero
Series:
IMF Working Papers
Volume/Issue:
Volume 1997: Issue 140
Language:
English
Publication Date:
01 Oct 1997
DOI:
https://doi.org/10.5089/9781451856095.001
ISBN:
9781451856095
ISSN:
1018-5941
Pages:
70
Keywords:
WP; interest rate; nationalized bank; banking crisis; exchange rate; capital flight; distressed bank; monetary policy; foreign currency; Commercial banks; Banking crises; Credit; Reserve requirements
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Recent banking crises in Argentina, Paraguay, and Venezuela suggest that the macroeconomic impact is influenced by the causes of the crisis, the exchange rate regime, the degree of dollarization, and the structure of the banking system. Crises stemming from both macroeconomic and bank-specific causes had the largest macroeconomic impact. Countries with high dollarization and a large share of foreign and government-owned banks maintained a more stable deposit base, at least temporarily, by shifting to dollar-denominated deposits and foreign and government-owned banks. Countries that responded with a rapid, consistent, and comprehensive policy response reduced the negative macroeconomic consequences of their crises.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund