Aug 2013
Author(s): Tavella, Pilar; Pedemonte, Mathieu; Powell, Andrew; Cavallo, Eduardo A.
This paper proposes a new taxonomy of Sudden Stops comprised of seven categories with definitions depending on the behavior of gross and net capital flows. The incidence of different types of Sudden…
Jun 2012
Author(s): Powell, Andrew; Tavella, Pilar
This paper analyzes capital inflow surges in emerging economies from 1980 to 2005. Estimated probit models are used, which discriminate well between surges associated with banking crises or…
Nov 2011
Author(s): Powell, Andrew; Miller, Marcus; Maier, Antonia
The recent financial crisis has forced a rethink of banking regulation and supervision and the role of financial innovation. This paper develops a model where prudent banks may signal their type…
Apr 2010
Author(s): Durante, Juan José; Focke, Kurt S.; Collich, Guillermo J.; Marcel, Mario; Andersen, Torben
The Latin American and Caribbean region is highly exposed to natural disasters. The social and economic impact of these events has been historically very significant and it is showing an increasingly…
Nov 2008
Author(s): Cavallo, Eduardo A.; Powell, Andrew; Rigobón, Roberto
If rating agencies add no new information to markets, their actions are not a public policy concern. But as rating changes may be anticipated, testing whether ratings add value is not straightforward…
Dec 2007
Author(s): Powell, Andrew; Martínez, Juan Francisco
This paper analyzes alternative models for emerging sovereign ratings. Although a small number of economic fundamentals explain ratings reasonably well, variations in those economic fundamentals are…
May 2007
Author(s): Bobba, Matteo; Powell, Andrew; Della Corte, Giuseppe
Money is used as a store of value, a medium of exchange and a unit of account. Most recent analyses of currency choice in an international setting have focused on the denomination of reservesthe…
Nov 2005
Author(s): Galindo, Arturo; Micco, Alejandro; Powell, Andrew
We suggest that foreign banks may represent a trade-off for their developing country hosts. A portfolio model is developed to show that a more diversified international bank may be one of lower,…
Dec 2004
Author(s): Kiguel, Miguel A.; Levy Yeyati, Eduardo; Galindo, Arturo; Panizza, Ugo; Miller, Margaret; Rojas-Suárez, Liliana; Bebczuk, Ricardo N.; López-de-Silanes, Florencio; Bernal, Olver; Auerbach, Paula; Chong, Alberto E.; Mandalaoui, Carolina; Izquierdo, Alejandro; Kamil, Herman; Demaestri, Edgardo C.; Loboguerrero, Ana María; Cowan, Kevin; Rodríguez-Clare, Andrés; Fergusson, Leopoldo; Micco, Alejandro; Powell, Andrew; Suárez, Gustavo; Lora, Eduardo; Stein, Ernesto H.; Studart, Rogerio
Credit supplied by the banking sector is the most important funding source for firms and households in Latin America and the Caribbean. Unfortunately, credit is scarce, costly and volatile. Without…
Dec 2004
Author(s): Kiguel, Miguel A.; Levy Yeyati, Eduardo; Galindo, Arturo; Panizza, Ugo; Miller, Margaret; Rojas-Suárez, Liliana; Bebczuk, Ricardo N.; López-de-Silanes, Florencio; Bernal, Olver; Auerbach, Paula; Chong, Alberto E.; Mandalaoui, Carolina; Izquierdo, Alejandro; Kamil, Herman; Demaestri, Edgardo C.; Loboguerrero, Ana María; Cowan, Kevin; Rodríguez-Clare, Andrés; Fergusson, Leopoldo; Micco, Alejandro; Powell, Andrew; Suárez, Gustavo; Lora, Eduardo; Stein, Ernesto H.; Studart, Rogerio
El crédito suministrado por el sector bancario es la fuente de financiamiento más importante para las firmas y los hogares en América Latina y el Caribe. Desafortunadamente, el crédito es escaso,…
Feb 2004
Author(s): Reis, José Guilherme A.; Valadares, Sílvia M.
Este trabalho analisa alguns dos principais obstáculos ao desenvolvimento do sistema financeiro brasileiro, ressaltando as medidas implementadas recentemente e indicando propostas para dar…
May 2003
Author(s): Solimano, Andrés
Da a conocer las tendencias globales y regionales de las remesas en los países andinos, las características de los mercados internacionales, costos del envío de remesas y las políticas para reducir…
Apr 2003
Author(s): Solimano, Andrés
Remittances in the Andes finance investment and growth, reduce poverty, complement national savings, and are a source of foreign exchange. Properly mobilized remittances can contribute to increased…
Nov 2001
Author(s): Andersen, Torben
The report makes a general assessment of the need for catastrophe risk transfer in Latin America and the Caribbean. It analyzes different ways in which risk transfer can take place in the form of…