Depositor Behavior under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies
Abstract
Depositor behavior has been associated with bank-specific characteristics, random runs, or contagion episodes. Using evidence on the 2000-02 bank runs in Argentina and Uruguay, this paper shows that macroeconomic risk is also important. Few macroeconomic shocks can quickly cause large runs. Macroeconomic risk affects deposits regardless of traditional bank-specific characteristics. Furthermore, bank exposure to macroeconomic factors can explain differences in deposit withdrawals. During crises, the evolution of bank-specific characteristics is mainly driven by macroeconomic factors, while the informational content of bank-specific variables declines. Overall, depositors seem responsive to risk in a broader sense than that often considered by the literature. Copyright (c) 2010 The Ohio State University.Download Info
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Bibliographic Info
Article provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.
Volume (Year): 42 (2010)
Issue (Month): 4 (06)
Pages: 585-614
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Handle: RePEc:mcb:jmoncb:v:42:y:2010:i:4:p:585-614
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879
For corrections or technical questions regarding this item, or to correct its listing, contact: (Robert Roslyn) or (Christopher F. Baum).
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Blog mentions
As found by EconAcademics.org, the blog aggregator for Economics research:- Crisis Trillizas y el fantasma de un nuevo Dracma
by Eduardo Levy Yeyati, Maria Soledad Martinez Peria y Sergio Schmukler in Colectivo Económico on 2011-07-18 12:00:00
Cited by:
- Eduardo Levy Yeyati & Tomas Williams, 2011.
"Emerging economies in the 2000s:Real decoupling and financial recoupling,"
Business School Working Papers
2011-06_correccion, Universidad Torcuato Di Tella.
- Yeyati, Eduardo Levy & Williams, Tomas, 2012. "Emerging economies in the 2000s : real decoupling and financial recoupling," Policy Research Working Paper Series 5961, The World Bank.
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