LEADER 05553oam 22013814 450 001 9910788694803321 005 20230828235819.0 010 $a1-4623-5788-1 010 $a1-4527-7336-X 010 $a1-283-51813-9 010 $a1-4519-0838-5 010 $a9786613830586 035 $a(CKB)3360000000443982 035 $a(EBL)3014377 035 $a(SSID)ssj0000940068 035 $a(PQKBManifestationID)11502267 035 $a(PQKBTitleCode)TC0000940068 035 $a(PQKBWorkID)10947100 035 $a(PQKB)11529341 035 $a(OCoLC)698585618 035 $a(MiAaPQ)EBC3014377 035 $a(IMF)WPIEE2006042 035 $a(EXLCZ)993360000000443982 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aBanks During the Argentine Crisis : $eWere they All Hurt Equally? Did they All Behave Equally? /$fV. Juan-Ramon, Emiliano Basco, Carlos Quarracino, Adolfo Barajas 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (42 p.) 225 1 $aIMF Working Papers 300 $a"February 2006." 311 $a1-4518-6302-0 327 $a""Contents""; ""I. INTRODUCTION""; ""II. OVERVIEW OF THE ARGENTINE BANKS IN THE RUN-UP TO THE CRISIS""; ""III. DESCRIPTIVE LOOK AT ARGENTINE BANKS IN THE 1995a???2001 PERIOD""; ""IV. ECONOMETRIC ANALYSIS""; ""V. CONCLUSIONS""; ""REFERENCES"" 330 3 $aThe simple answer to both questions in the title of this paper is: No. We concentrate on the three main risk elements that contributed to the banking system?s difficulties during the crisis: increasing dollarization of the balance sheet, expanding exposure to the government, and, eventually, the run on deposits. We find that there was substantial cross-bank variation in these elements?that is, not all banks were hurt equally by macroeconomic shocks. Furthermore, using panel data estimation for the 1998?2001 period, we find that depositors were able to distinguish high- from low-risk banks, and that individual banks? exposure to currency and government default risk depended on bank fundamentals and other characteristics. Thus, not all banks behaved equally in the run-up to the crisis. Finally, our results have implications for the existence of market discipline in periods of stress and for banking regulation, which may have led banks to underestimate some of the risks they incurred. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/042 606 $aBanks and banking$zArgentina 606 $aBank failures$zArgentina 606 $aFinancial crises$zArgentina 606 $aBanks and Banking$2imf 606 $aMoney and Monetary Policy$2imf 606 $aExports and Imports$2imf 606 $aInternational Finance: General$2imf 606 $aOpen Economy Macroeconomics$2imf 606 $aInformation and Market Efficiency$2imf 606 $aEvent Studies$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aMonetary Systems$2imf 606 $aStandards$2imf 606 $aRegimes$2imf 606 $aGovernment and the Monetary System$2imf 606 $aPayment Systems$2imf 606 $aInternational Lending and Debt Problems$2imf 606 $aBanking$2imf 606 $aMonetary economics$2imf 606 $aInternational economics$2imf 606 $aBank deposits$2imf 606 $aCurrencies$2imf 606 $aCommercial banks$2imf 606 $aForeign currency exposure$2imf 606 $aMoney$2imf 606 $aFinancial services$2imf 606 $aFinancial institutions$2imf 606 $aExternal debt$2imf 606 $aBanks and banking$2imf 606 $aForeign exchange market$2imf 606 $aDebts, External$2imf 607 $aArgentina$2imf 615 0$aBanks and banking 615 0$aBank failures 615 0$aFinancial crises 615 7$aBanks and Banking 615 7$aMoney and Monetary Policy 615 7$aExports and Imports 615 7$aInternational Finance: General 615 7$aOpen Economy Macroeconomics 615 7$aInformation and Market Efficiency 615 7$aEvent Studies 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aMonetary Systems 615 7$aStandards 615 7$aRegimes 615 7$aGovernment and the Monetary System 615 7$aPayment Systems 615 7$aInternational Lending and Debt Problems 615 7$aBanking 615 7$aMonetary economics 615 7$aInternational economics 615 7$aBank deposits 615 7$aCurrencies 615 7$aCommercial banks 615 7$aForeign currency exposure 615 7$aMoney 615 7$aFinancial services 615 7$aFinancial institutions 615 7$aExternal debt 615 7$aBanks and banking 615 7$aForeign exchange market 615 7$aDebts, External 700 $aJuan-Ramon$b V$01558688 701 $aBasco$b Emiliano$01558689 701 $aQuarracino$b Carlos$01558690 701 $aBarajas$b Adolfo$01558691 712 02$aInternational Monetary Fund. 712 02$aIMF Institute. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788694803321 996 $aBanks During the Argentine Crisis$93823276 997 $aUNINA