05553oam 22013814 450 991078869480332120230828235819.01-4623-5788-11-4527-7336-X1-283-51813-91-4519-0838-59786613830586(CKB)3360000000443982(EBL)3014377(SSID)ssj0000940068(PQKBManifestationID)11502267(PQKBTitleCode)TC0000940068(PQKBWorkID)10947100(PQKB)11529341(OCoLC)698585618(MiAaPQ)EBC3014377(IMF)WPIEE2006042(EXLCZ)99336000000044398220020129d2006 uf 0engur|n|---|||||txtccrBanks During the Argentine Crisis : Were they All Hurt Equally? Did they All Behave Equally? /V. Juan-Ramon, Emiliano Basco, Carlos Quarracino, Adolfo BarajasWashington, D.C. :International Monetary Fund,2006.1 online resource (42 p.)IMF Working Papers"February 2006."1-4518-6302-0 ""Contents""; ""I. INTRODUCTION""; ""II. OVERVIEW OF THE ARGENTINE BANKS IN THE RUN-UP TO THE CRISIS""; ""III. DESCRIPTIVE LOOK AT ARGENTINE BANKS IN THE 1995â€?2001 PERIOD""; ""IV. ECONOMETRIC ANALYSIS""; ""V. CONCLUSIONS""; ""REFERENCES""The simple answer to both questions in the title of this paper is: No. We concentrate on the three main risk elements that contributed to the banking system’s difficulties during the crisis: increasing dollarization of the balance sheet, expanding exposure to the government, and, eventually, the run on deposits. We find that there was substantial cross-bank variation in these elements—that is, not all banks were hurt equally by macroeconomic shocks. Furthermore, using panel data estimation for the 1998–2001 period, we find that depositors were able to distinguish high- from low-risk banks, and that individual banks’ exposure to currency and government default risk depended on bank fundamentals and other characteristics. Thus, not all banks behaved equally in the run-up to the crisis. Finally, our results have implications for the existence of market discipline in periods of stress and for banking regulation, which may have led banks to underestimate some of the risks they incurred.IMF Working Papers; Working Paper ;No. 2006/042Banks and bankingArgentinaBank failuresArgentinaFinancial crisesArgentinaBanks and BankingimfMoney and Monetary PolicyimfExports and ImportsimfInternational Finance: GeneralimfOpen Economy MacroeconomicsimfInformation and Market EfficiencyimfEvent StudiesimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfMonetary SystemsimfStandardsimfRegimesimfGovernment and the Monetary SystemimfPayment SystemsimfInternational Lending and Debt ProblemsimfBankingimfMonetary economicsimfInternational economicsimfBank depositsimfCurrenciesimfCommercial banksimfForeign currency exposureimfMoneyimfFinancial servicesimfFinancial institutionsimfExternal debtimfBanks and bankingimfForeign exchange marketimfDebts, ExternalimfArgentinaimfBanks and bankingBank failuresFinancial crisesBanks and BankingMoney and Monetary PolicyExports and ImportsInternational Finance: GeneralOpen Economy MacroeconomicsInformation and Market EfficiencyEvent StudiesBanksDepository InstitutionsMicro Finance InstitutionsMortgagesMonetary SystemsStandardsRegimesGovernment and the Monetary SystemPayment SystemsInternational Lending and Debt ProblemsBankingMonetary economicsInternational economicsBank depositsCurrenciesCommercial banksForeign currency exposureMoneyFinancial servicesFinancial institutionsExternal debtBanks and bankingForeign exchange marketDebts, ExternalJuan-Ramon V1558688Basco Emiliano1558689Quarracino Carlos1558690Barajas Adolfo1558691International Monetary Fund.IMF Institute.DcWaIMFBOOK9910788694803321Banks During the Argentine Crisis3823276UNINA