Aug 2012
Author(s): García Osío, Gustavo; Marcel, Mario; Martínez Guzman, Juan Pablo; Sanginés, Mario; Farias, Pedro; Pimenta, Carlos; Chrisney, Martin D.; Prats Cabrera, Joan Oriol; Crespi, Gustavo
Las instituciones fiscales del mañana, título inaugural de la serie Instituciones para la gente, aborda temas de gestión pública clave para el desarrollo económico de América Latina y el Caribe.…
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 2005
Author(s): Galindo, Arturo; Micco, Alejandro
This paper studies the relationship between creditor protection and credit volatility. During the negative phase of the business cycle, credit contracts more in countries with poor creditor…
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,…
Nov 2005
Author(s): Galindo, Arturo; Micco, Alejandro
This paper develops a model showing that inefficient legal protections disproportionately increase financial restrictions for creditors that have less wealth. Due to fixed monitoring costs in…
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,…
Oct 2004
Author(s): Micco, Alejandro; Panizza, Ugo
This paper examines whether bank ownership (public versus private, domestic versus foreign) is correlated with bank lending behavior over the business cycle. The paper finds that state-owned banks…
Oct 2004
Author(s): Levy Yeyati, Eduardo; Micco, Alejandro; Panizza, Ugo
This paper surveys the theoretical and empirical literature on the role of state-owned banks and also presents some new results and a robustness analysis. The paper shows that state-owned banks…
Oct 2004
Author(s): Micco, Alejandro; Panizza, Ugo; Yañez, Mónica
This paper builds a new dataset on bank ownership and bank performance covering approximately 50,000 observations for 119 countries over the 1995-2002 period. The paper then uses the dataset to…
Oct 2003
Author(s): Levy Yeyati, Eduardo; Micco, Alejandro
In recent years, Latin American banking sectors have experienced an accelerated process of concentration and foreign penetration that has prompted diverse views regarding its implications for the…
Jan 2003
Author(s): Galindo, Arturo; Micco, Alejandro
This paper tests the efficiency of different structures of bank ownership in terms of its ability to target manufacturing sectors in need of credit. We find that state- owned banks do not play a…
Dec 2002
Author(s): Galindo, Arturo; Micco, Alejandro; Serra, César Manuel
Institutional and legal differences between countries increase entry costs and reduce the ability of banks to expand abroad. We use bilateral foreign banking data for 176 countries to estimate a…
Sep 2001
Author(s): Kapsoli, Javier; Galindo, Arturo; Márquez, Gustavo; Daude, Christian; Melo, Alberto; Miller, Margaret; Jansson, Tor; Pagés, Carmen; Micco, Alejandro; Chong, Alberto E.; Székely, Miguel; Millán, Jaime; Lora, Eduardo; Stein, Ernesto H.; Pérez, Natalia
Participar en la economía mundial no lleva necesariamente a elevar la productividad de una nación ni a reestructurar su economía. Estos cambios requieren movilizar capital, empleo, tecnología y…
Sep 2001
Author(s): Kapsoli, Javier; Galindo, Arturo; Márquez, Gustavo; Daude, Christian; Melo, Alberto; Miller, Margaret; Jansson, Tor; Pagés, Carmen; Micco, Alejandro; Chong, Alberto E.; Székely, Miguel; Millán, Jaime; Lora, Eduardo; Stein, Ernesto H.; Pérez, Natalia
Competing in the world economy does not automatically boost a nation's productivity and restructure its economy. Such progress requires mobilizing capital, employment, technology and knowledge.…
Mar 2001
Author(s): Galindo, Arturo; Micco, Alejandro
We develop a model in which the elasticity of credit to exogenous shocks depends on creditor rights regulations. We show that an increase in creditor protection reduces the elasticity of credit…