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Productive, Geographic and Debtor Diversification and Its Effect on the Quality of the Credit Portfolio in Argentina

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Author Info

  • Alejandra Anastasi

    ()
    (Central Bank of Argentina)

  • Ricardo Bebczuk

    (Central Bank of Argentina)

  • Pedro Elosegui

    (Central Bank of Argentina)

  • Máximo Sangiácomo

    ()
    (Central Bank of Argentina)

Abstract

This paper analyzes the relationship between the quality of the commercial credit portfolio and diversification in the financial entities of Argentina during the period 1998-2006. To this effect, a database of the financial sector (banking and non-banking) is used, which allows to consider three potential dimensions of diversification: per productive sector, per province and per client. In addition to characterizing the financial entities’ diversification decisions during the period under analysis, which includes the severe economic and financial crisis of late 2001, the paper analyzes the determinants of the portfolio’s quality including the effect of diversification in the three dimensions stated above. The results indicate that, by controlling for the relevant variables, specialization improves the quality of the credit portfolio.

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File URL: http://www.bcra.gov.ar/pdfs/investigaciones/WP%202008%2036e.pdf
File Function: Spanish version (versión en Español)
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Bibliographic Info

Paper provided by Central Bank of Argentina, Economic Research Department in its series BCRA Working Paper Series with number 200836.

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Length: 38 pages
Date of creation: Aug 2008
Date of revision:
Handle: RePEc:bcr:wpaper:200836

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Related research

Keywords: Argentina; banks; credit diversification; loan quality; non-performing loans;

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  1. Evelyn Hayden & Daniel Porath & Natalja von Westernhagen, 2006. "Does Diversification Improve the Performance of German Banks? Evidence from Individual Bank Loan Portfolios," Working Papers, Oesterreichische Nationalbank (Austrian Central Bank) 110, Oesterreichische Nationalbank (Austrian Central Bank).
  2. James, Christopher, 1987. "Some evidence on the uniqueness of bank loans," Journal of Financial Economics, Elsevier, Elsevier, vol. 19(2), pages 217-235, December.
  3. Petersen, Mitchell A & Rajan, Raghuram G, 1994. " The Benefits of Lending Relationships: Evidence from Small Business Data," Journal of Finance, American Finance Association, American Finance Association, vol. 49(1), pages 3-37, March.
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