The price of inconvertible deposits: the stock market boom during the Argentine crisis
AbstractThe Argentine crisis witnessed, among other things, a deposit run, the suspension of deposit convertibility, and a"boom"in the stock market. The authors argue that this boom reflects the cost that depositors were willing to incur to get their money out of the banking system, in light of the impending risks. This boom was generalized to all stocks, and more pronounced in liquid stocks. Furthermore, the boom was a symptom that deposits were effectively restricted, and that investors were not able to circumvent capital controls.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 83 (2004)
Issue (Month): 1 (April)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- Levy Yeyati, Eduardo & Schmukler, Sergio L. & Van Horen, Neeltje, 2003. "The price of inconvertible deposits - the stock market boom during the Argentine crisis," Policy Research Working Paper Series 3146, The World Bank.
- Eduardo Levy Yeyati & Sergio Schmukler & Neeltje van Horen, 2003. "The Price of Inconvertible Deposits: The Stock Market Boom during the Argentine crisis"," Business School Working Papers diez, Universidad Torcuato Di Tella.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- El corralito cambiario (Blue)
by ELY in Blog de Eduardo Levy Yeyati on 2012-03-21 16:33:00
- En defensa de los controles de capital
by Eduardo Levy-Yeyati in Foco Económico on 2010-12-15 12:00:00
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