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¿Acreedores leales o financistas inconstantes? La banca extranjera en América Latina

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Author Info
Arturo Galindo ()
Alejandro Micco
Andrew Powell

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Abstract

(Disponible en idioma inglés únicamente) Proponemos que los bancos extranjeros pueden representar un elemento de compensación cuando sus receptores son países en desarrollo. Se formula un modelo de cartera para mostrar que es posible que un banco internacional más diversificado puede ofrecer un menor nivel de riesgo general y menos susceptibilidad a sacudidas de fondos, pero que puede reaccionar en mayor medida a las sacudidas que afectan a los rendimientos anticipados en un país receptor dado. Los bancos extranjeros han adquirido un papel especialmente importante en América Latina, donde hallamos un fuerte apoyo a estas predicciones teóricas empleando un conjunto de datos de bancos individuales en 11 países latinoamericanos. Además, no hallamos diferencia significativa alguna entre el tamaño de la respuesta de bancos extranjeros a una sacudida de liquidez negativa y a una sacudida de oportunidad positiva: en ambos casos aumenta la participación de mercado de los bancos extranjeros en las operaciones de crédito.

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Paper provided by Inter-American Development Bank, Research Department in its series RES Working Papers with number 4404.

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Date of creation: Dec 2005
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Handle: RePEc:idb:wpaper:4404

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  2. B. Gerard Dages & Linda Goldberg & Daniel Kinney, 2000. "Foreign and domestic bank participation in emerging markets: lessons from Mexico and Argentina," Economic Policy Review, Federal Reserve Bank of New York, issue Sep, pages 17-36. [Downloadable!]
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  5. Calvo, Guillermo A. & Mendoza, Enrique G., 2000. "Rational contagion and the globalization of securities markets," Journal of International Economics, Elsevier, vol. 51(1), pages 79-113, June. [Downloadable!] (restricted)
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  6. Rochet, Jean-Charles, 1992. "Capital requirements and the behaviour of commercial banks," European Economic Review, Elsevier, vol. 36(5), pages 1137-1170, June. [Downloadable!] (restricted)
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  9. Jennifer S. Crystal & B. Gerard Dages & Linda S. Goldberg, 2002. "Has foreign bank entry led to sounder banks in Latin America?," Current Issues in Economics and Finance, Federal Reserve Bank of New York, issue Jan. [Downloadable!]
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