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Determinantes de los spreads bancarios: El caso de Chile

Author

Listed:
  • Miguel Basch
  • Rodrigo Fuentes

Abstract

El principal objetivo de este estudio es determinar en forma empírica los determinantes económicos de los spreads bancarios en Chile. Los factores que determinan los spreads bancarios pueden ser clasificados como factores de carácter microeconómico (que se refieren básicamente a la administración de los bancos comerciales, manejo de riesgo y al funcionamiento del mercado), factores macroeconómicos (política monetaria e inflación, política cambiaria y evolución del tipo de cambio, etc. ) y factores institucionales (legislación bancaria y supervisión). Muchos de estos factores han sido sugeridos por la teoría, por lo cual, la pregunta acerca de cuáles de estos factores son más preponderantes en la determinación del margen de los bancos pasa a ser una pregunta empírica. La economía chilena presenta un caso interesante de analizar, puesto que después de la crisis de 1982-83 en que se liquidaron y se intervino la administración de varios bancos, comenzó un desarrollo de un sistema financiero completamente diferente al existente a esa fecha. En primer lugar, se modificó la legislación imponiendo restricciones sobre la concentración de la cartera de activos de los bancos. En segundo lugar, se ejercieron controles más estrictos en la administración de los bancos por parte de la autoridad, a través de la Superintendencia de Bancos y Sociedades Financieras. Todo esto se fue dando en un contexto de "sequía" de capitales externos entre 1984 y 1988, período en el cual, préstamos voluntarios a Chile eran inexistentes (véase Agosin, Fuentes y Letelier, 1993).

Suggested Citation

  • Miguel Basch & Rodrigo Fuentes, 1998. "Determinantes de los spreads bancarios: El caso de Chile," Research Department Publications 3028, Inter-American Development Bank, Research Department.
    • Handle: RePEc:idb:wpaper:3028
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    References listed on IDEAS

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    1. Gelb, Alan H., 1989. "Financial policies, growth, and efficiency," Policy Research Working Paper Series 202, The World Bank.
    2. Eyzaguirre, Nicolás & Larrañaga, Osvaldo, 1990. "Macroeconomía de las operaciones cuasi fiscales en Chile," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 33542, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. Baltensperger, Ernst, 1980. "Alternative approaches to the theory of the banking firm," Journal of Monetary Economics, Elsevier, vol. 6(1), pages 1-37, January.
    4. Zarruk, Emilio R., 1989. "Bank spread with uncertain deposit level and risk aversion," Journal of Banking & Finance, Elsevier, vol. 13(6), pages 797-810, December.
    5. Ho, Thomas S. Y. & Saunders, Anthony, 1981. "The Determinants of Bank Interest Margins: Theory and Empirical Evidence," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 16(4), pages 581-600, November.
    6. Fama, Eugene F., 1980. "Banking in the theory of finance," Journal of Monetary Economics, Elsevier, vol. 6(1), pages 39-57, January.
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    Cited by:

    1. Francisco Gallego Y. & Norman Loayza., 2000. "Financial Structure in Chile: Macroeconomic Developments and Microeconomic Effects," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 3(2), pages 5-30, August.
    2. Rómulo Chumacero E. & Patricia S. Langoni, 2001. "Risk, Size and Concentration in the Chilean Banking System," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 4(1), pages 25-34, April.
    3. Pablo Alonso González & Irene Albarrán Lozano & Andrea Giuliodori Khalil, 2006. "El Impacto del descenso en los Tipos de Interés sobre el margen financiero de las Cajas de Ahorros españolas," Revista de Economía y Estadística, Universidad Nacional de Córdoba, Facultad de Ciencias Económicas, Instituto de Economía y Finanzas, vol. 44(1), pages 98-136, Junio.

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