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El endeudamiento de las empresas argentinas en una economía en crisis (1983-1991)

Author

Listed:
  • Sergio A. Berumen

    () (Instituto Politécnico Nacional)

  • Fabio Bagnasco Petrelli

    () (Università degli Studi di Padova)

Abstract

The significant number of banking credits granted to the Argentinean firms during the period 1983-1991 makes it necessary to study the causes of this serious debt. This article analyses the weakness of the self-financing rate and the effect of external support, as well as the effects related with the economic environment that encouraged this debt. Agency and information theories, at the macroeconomic level, are used to fulfil this objective.

Suggested Citation

  • Sergio A. Berumen & Fabio Bagnasco Petrelli, 2006. "El endeudamiento de las empresas argentinas en una economía en crisis (1983-1991)," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 8(14), pages 215-234, January-J.
  • Handle: RePEc:rei:ecoins:v:8:y:2006:i:14:p:215-234
    as

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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/sberumen14.pdf
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    References listed on IDEAS

    as
    1. Robert P Flood & Jagdeep S. Bhandari & Pierre-Richard Agénor, 1991. "Speculative Attacks and Models of Balance of Payments Crises," IMF Working Papers 91/99, International Monetary Fund.
    2. Barry Eichengreen & Andrew K. Rose & Charles Wyplosz, 1996. "Contagious Currency Crises," NBER Working Papers 5681, National Bureau of Economic Research, Inc.
    3. Reuven Glick & Ramon Moreno & Mark M. Spiegel, 2001. "Financial crises in emerging markets," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue mar.23.
    4. Paul R. Masson, 1999. "Multiple equilibria, contagion, and the emerging market crises," Proceedings, Federal Reserve Bank of San Francisco, issue Sep.
    5. Rangvid, Jesper, 2001. " Second Generation Models of Currency Crises," Journal of Economic Surveys, Wiley Blackwell, vol. 15(5), pages 613-646, December.
    6. Frederic S. Mishkin, 2001. "Financial Policies and the Prevention of Financial Crises in Emerging Market Countries," NBER Working Papers 8087, National Bureau of Economic Research, Inc.
    7. Tobin, James, 1969. "A General Equilibrium Approach to Monetary Theory," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(1), pages 15-29, February.
    8. Pierre-Richard Agénor & Jagdeep S. Bhandari & Robert P. Flood, 1992. "Speculative Attacks and Models of Balance of Payments Crises," IMF Staff Papers, Palgrave Macmillan, vol. 39(2), pages 357-394, June.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Argentinean firms; indebtedness; economic crisis; autofinancing;

    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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