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

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Listed:
  • Arturo Galindo
  • Alejandro Micco
  • Andrew Powell

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.

Suggested Citation

  • Arturo Galindo & Alejandro Micco & Andrew Powell, 2005. "¿Acreedores leales o financistas inconstantes? La banca extranjera en América Latina," Research Department Publications 4404, Inter-American Development Bank, Research Department.
    • Handle: RePEc:idb:wpaper:4404
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    References listed on IDEAS

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