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Regímenes cambiantes, estructura de deuda y fragilidad bancaria en México

Author

Listed:
  • Rodolfo Cermeño

    (Centro de Investigación y Docencia Económica)

  • Fausto Hernández Trillo

    (Centro de Investigación y Docencia Económica)

  • Alejandro Villagómez Amezcua

    (Centro de Investigación y Docencia Económica)

Abstract

This paper uses the switching probability regimes methodology to estimate the determinants of financial crisis, measured in changes in the stochastic regimes of interest and exchange rates. We use Mexico to perform the exercise. Results suggest that public debt structure is important in explaining the so-called tequila crisis. This result contrasts with the determinants identified by the existent literature. In addition, financial fragility measured as the ratio of M2 to reserves, was also important in explaining the regimes under study.

Suggested Citation

  • Rodolfo Cermeño & Fausto Hernández Trillo & Alejandro Villagómez Amezcua, 2001. "Regímenes cambiantes, estructura de deuda y fragilidad bancaria en México," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 16(1), pages 105-132.
    • Handle: RePEc:emx:esteco:v:16:y:2001:i:1:p:105-132
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