Riesgo moral asociado al uso de endeudamiento externo de corto plazo por parte del sector financiero
[Moral Hazard associated with the use of short-term foreign borrowing by the financial intermediaries in Costa Rica]
This paper addresses the issue of moral hazard associated with the use of short-term foreign borrowing by the financial intermediaries in Costa Rica. This situation arises from the implicit insurance that the authorities confer; given the expectation that banks have about central bank incentives to intervene to prevent the fail of any systemically important financial institution (SIFI). Using a simple mathematical-economic model, this paper analyzes several factors involved in this phenomenon and suggests policy measures that could provide a solution to the problem.
|Date of creation:||2010|
|Date of revision:||2010|
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