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 recessions, and those surges that end without such events. The results indicate that the composition of...

Several European countries face challenges reminiscent of those faced by the emerging economies of Latin America. The economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and then the busts including Sudden Stops in capital...

Europe faces challenges reminiscent of Latin American financial crises. The failure of recent liquidity support to normalize the situation in Europe suggests the need to refocus the policy debate on fundamentals: structural reform for growth and, where needed, restructuring to resolve banking...

This paper studies whether lending by foreign banks is affected by financial crises. The paper pairs a bank-level dataset of foreign ownership with information on banking crises and examines whether the credit supply of majority foreignowned banks that underwent home-country crises differs...

This paper presents a growth diagnostic exercise for Peru. It notes that although Peru has recently enjoyed high rates of economic growth, this growth is actually a recovery from a significant and sustained growth collapse that began in the 1970s, caused by a decline in export earnings due to...

This policy note focuses on provisioning practices in Latin America, a supervisory tool that if well designed can contribute to strengthen both micro and macro prudential regulation. For that purpose this note briefly explains the importance of an adequate regulatory regime for provisioning...

This paper examines the liberalization process in the context of reflecting on the challenges facing China's financial system and possible lessons that can be learned from the experiences of other emerging market economies. Section 1 begins with a brief look at the characteristics of the Chinese...

The central objective of this discussion paper is to present a simple explanation of recent financial crises and, on that basis, to discuss some policy options for individual countries. Systemic policies are not discussed. More emphasis is put on understanding the nature of these crises than on...

Los sistemas de garantía son instrumentos que tratan de mitigar las disfunciones que genera la exigencia de garantías a los empresarios en las operaciones crediticias. En este trabajo se diagnostican los efectos no deseados que provocan las reglas internacionales en el acceso al financiamiento...

After the 2007-2009 global financial crisis and previous financial crises in Latin America, the liquidity-risk exposure of banking systems is considered one of the most important vulnerabilities. At the same time, that exposure may also be the most mysterious of those vulnerabilities, as the...