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Credit Stagnation in Latin America

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Author Info

  • Adolfo Barajas
  • Roberto Steiner

Abstract

This study examines the recent marked slowdown in bank credit to the private sector in Latin America. Based on the study of eight countries (Argentina, Bolivia, Brazil, Chile, Colombia, Peru, Mexico, and Venezuela), the magnitude of the slowdown is documented, comparing it to historical behavior and to slowdown episodes in other regions of the world. Second, changes in bank balance sheets are examined to determine whether the credit slowdown is merely a reflection of a slowdown in bank deposits, or whether the asset side has changed. Third, following an econometric disequilibrium approach used in recent studies of credit slowdowns in East Asia and Finland, the paper investigates possible causes for the slowdown in three countries: Colombia, Mexico, and Peru. While both supply and demand factors appear to have played key roles, their relative importance has varied across countries.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 02/53.

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Length: 49
Date of creation: 01 Mar 2002
Date of revision:
Handle: RePEc:imf:imfwpa:02/53

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Related research

Keywords: Credit; Latin America; banking; deposit money; deposit money banks; bank credit; banking system; stock market; international financial statistics; financial system; excess demand; bank deposits; financial institutions; stock market index; financial sector; bank loans; banking institutions; deposit growth; stock brokerage; bonds; bank behavior; deposit interest; mortgage bank; money market; savings bank; bank balance sheets; financial markets; reserve requirements; money market funds; bank activities; bank lending; debt restructuring; nominal interest rate; government bonds; bank assets; equity finance; banking crisis; bank debts; bank loan; banking sector; national bank; nonbank financial institution; accounting framework; bank restructuring; international financial markets; stock market indices; financial intermediation; disintermediation; banks balance sheets; bank of korea; financial corporations; bond; financial liberalization; banks ? balance sheets; macroeconomic stability; bank policy; bank-specific risk; financial reform; financial systems; commercial loan; domestic financial system; bank regulation; access to international financial markets; deposit rate; state bank; bond market; bank reserves;

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