LEADER 04290nam 2200649 450 001 9910464000803321 005 20181115032502.0 010 $a1-4623-6589-2 010 $a1-4519-9233-5 010 $a1-282-84087-8 010 $a9786612840876 010 $a1-4518-6994-0 035 $a(CKB)3170000000055034 035 $a(EBL)1605816 035 $a(SSID)ssj0000943990 035 $a(PQKBManifestationID)11501261 035 $a(PQKBTitleCode)TC0000943990 035 $a(PQKBWorkID)10982912 035 $a(PQKB)10081310 035 $a(OCoLC)252904214 035 $a(MiAaPQ)EBC1605816 035 $a(EXLCZ)993170000000055034 100 $a20140226h20082008 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCentral bank involvement in banking crises in Latin America /$fLuis Ignacio Ja?come ; authorized for distribution by Peter Stella 210 1$a[Washington, District of Columbia] :$cInternational Monetary Fund,$d2008. 210 4$dİ2008 215 $a1 online resource (51 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/135 300 $aDescription based upon print version of record. 311 $a1-4519-1447-4 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. Taking Stock of Banking Crises in Latin America; A. Defining Banking Crises; B. The Roots of the Crises; Figures; 1. Capital Flows and Banking Crises in Latin America; 2. Financial Reform and Banking Crises in Latin America; 3. Real Effective Exchange Rate and Banking Crises in Latin America; 4. Banking Crises and Real Credit Growth; C. Some Stylized Macroeconomic Facts Accompanying Banking Crises; Tables; 1. Banking Crises in Latin America and Relevant Macro-Financial Features; III. The Role of Central Banks in Banking Crises in Latin America 327 $aA. Intensive Use of Central Bank Money 2. Modalities of Monetization of Banking Crises; 5. Large Banking Crises in Latin America-Selected Episodes; B. The Role of the Institutional Framework; 6. Minor and Moderate Banking Crises in Latin America-Selected Episodes; 3. Institutional Framework behind Banking Crises in Latin America; Boxes; 1. Large ""Monetization"" of Banking Crises in Selected Countries; 2. Effective Episodes of Bank Restructuring and Resolution in Selected Countries; IV. Macroeconomic Repercussions; A. On Monetary Policy; 3. Banking Crises and Monetary Policy 327 $a7. Performance of the Money Multiplier in the Midst of Banking Crises in Latin America B. On Macroeconomic Stability; 4. Pair-Wise Correlations Between Selected Variables; 8. Banking Crises and Central Bank Money; 9. Central Bank Money in Banking Crises and Currency Depreciation; 10. Central Bank Money in Banking Crises and Fall in International Reserves; 5. Monetization of Banking Crises, Inflation, and Economic Growth; V. Lessons and Concluding Remarks; Appendix; I. Sample of Episodes of Banking Crises in Latin America from 1990 to 2006-Stylized Facts and Policy Response; References 330 $aThis paper reviews the nature of central bank involvement in 26 episodes of financial disturbance and crises in Latin America from the mid-1990s onwards. It finds that, except in a handful of cases, large amounts of central bank money were used to cope with large and small crises alike. Pouring central bank money into the financial system generally derailed monetary policy, fueled further macroeconomic unrest, and contributed to simultaneous currency crises, thereby aggravating financial instability. In contrast, when central bank money issuance was restricted and bank resolution was timely ex 410 0$aIMF Working Papers 606 $aFinancial crises$zLatin America 606 $aMonetary policy$zLatin America 608 $aElectronic books. 615 0$aFinancial crises 615 0$aMonetary policy 676 $a330.9800411 700 $aJa?come$b Luis Ignacio$0905665 701 $aStella$b Peter$0860306 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910464000803321 996 $aCentral bank involvement in banking crises in Latin America$92025800 997 $aUNINA