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Determinants and Consequences of Financial Constraints Facing Firms in Argentina

Author

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  • Jose Maria Fanelli
  • Ricardo N. Bebczuk
  • Juan J. Pradelli

Abstract

In the 1990s Argentina implemented an ambitious structural reform program that brought about profound changes in the economy. The monetary and exchange rate regimes and the banking sector were no exception. In fact, during that decade the country displayed a unique combination of characteristics: 1. The exchange rate/monetary regime was a currency board between 1991 and 2001. 2. There were no obstacles to capital flows and tighter prudential regulations were introduced. 3. Private portfolios and banks` balance sheets were highly dollarized.

Suggested Citation

  • Jose Maria Fanelli & Ricardo N. Bebczuk & Juan J. Pradelli, 2002. "Determinants and Consequences of Financial Constraints Facing Firms in Argentina," Research Department Publications 3147, Inter-American Development Bank, Research Department.
  • Handle: RePEc:idb:wpaper:3147
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    References listed on IDEAS

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    9. Harris, John R & Schiantarelli, Fabio & Siregar, Miranda G, 1994. "The Effect of Financial Liberalization on the Capital Structure and Investment Decisions of Indonesian Manufacturing Establishments," World Bank Economic Review, World Bank Group, vol. 8(1), pages 17-47, January.
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    Citations

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    Cited by:

    1. Arturo Galindo & Fabio Schiantarelli, 2002. "Credit Constraints in Latin America: An Overview of the Micro Evidence," Research Department Publications 3165, Inter-American Development Bank, Research Department.
    2. Martín Gonzalez Rozada & José Fanelli, 2003. "Business Cycle and Macroeconomic Policy Coordination in MERCOSUR," Business School Working Papers uno, Universidad Torcuato Di Tella.
    3. José Maria FANELLI, 2007. "Regional arrangements to support growth and macro-policy coordination in MERCOSUR," G-24 Discussion Papers 46, United Nations Conference on Trade and Development.
    4. Fanelli, José María, 2002. "Growth, instability and the convertibility crisis in Argentina," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    5. Pedro Elosegui & Paula Español & Demian Panigo & Emilio Blanco, 2007. "The Asymmetrical Impact of Restrictions to Financing in Argentina. Comparison by Sector, Size and Origin of Ownership (1995-2003)," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, pages 73-107.
    6. Pedro Elosegui & Paula Español & Demian Panigo & Emilio Blanco, 2007. "The Asymmetrical Impact of Restrictions to Financing in Argentina. Comparison by Sector, Size and Origin of Ownership (1995-2003)," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, pages 73-107.
    7. Espanol, Paula, 2006. "Why exporters can be financially constrained in a recently liberalised economy? A puzzle based on Argentinean firms during the 1990s," Proceedings of the German Development Economics Conference, Berlin 2006 7, Verein für Socialpolitik, Research Committee Development Economics.
    8. Sebastián Auguste & Ricardo N. Bebczuk & Ramiro Moya, 2011. "The Demand for Mortgages under Macro Volatility: The Argentine Case," Research Department Publications 4751, Inter-American Development Bank, Research Department.
    9. Arturo Galindo & Fabio Schiantarelli, 2002. "Credit Constraints in Latin America: An Overview of the Micro Evidence," IDB Publications (Working Papers) 1438, Inter-American Development Bank.
    10. Sucre Reyes, M.A., 2014. "Finance, growth and social fairness : Evidence for Latin America and Bolivia," Other publications TiSEM ad514338-1973-4ec9-b5c7-2, Tilburg University, School of Economics and Management.
    11. Dario DEBOWICZ, "undated". "Real Financial Models in Argentina," EcoMod2010 259600044, EcoMod.
    12. Jorge Carrera & Luis N. Lanteri, 2007. "Macroeconomic Shocks and Financial Vulnerability," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, pages 13-71.
    13. Jorge Carrera & Luis N. Lanteri, 2007. "Macroeconomic Shocks and Financial Vulnerability," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, pages 13-71.
    14. Pedro Elosegui & Paula Español & Demian Panigo & Juan Sotes Paladino, 2006. "Methodological Alternatives for the Analysis of Financial Constraints in Argentina," BCRA Working Paper Series 200602, Central Bank of Argentina, Economic Research Department.

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