Maria Soledad Martinez Peria (International Monetary Fund) Andrew Powell (International Monetary Fund) Ivanna Vladkova-Hollar (International Monetary Fund)
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The significant rise in foreign bank claims observed during the 1990s, following their steep decline during the 1980s debt crisis, reignited interest in understanding the behavior of these flows. This paper analyzes changes in foreign bank claims on the Latin American private sector over the period 1985-2000. We find that banks transmit shocks from their home countries (where banks' headquarters are located) and that changes in claims on individual host countries (those that receive claims) are correlated with aggregate changes in claims on other countries. However, over time, we observe that foreign bank claims have become less responsive to external factors. Also, we present evidence that the sensitivity of foreign bank claims to host factors diminishes, as banks' aggregate exposure rises. Finally, we find that foreign bank claims react more to positive than to negative host shocks and are not significantly curtailed during crises. Copyright 2005, International Monetary Fund
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Article provided by International Monetary Fund in its journal IMF Staff Papers.
Volume (Year): 52 (2005) Issue (Month): 3 () Pages: 4 Download reference. The following formats are available: HTML,
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Find related papers by JEL classification: G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean
References listed on IDEAS 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.:
Michael Bordo & Barry Eichengreen & Daniela Klingebiel & Maria Soledad Martinez-Peria, 2001.
"Is the crisis problem growing more severe?,"
Economic Policy,
CEPR, CES, MSH, vol. 16(32), pages 51-82, 04.
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