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Crisis Management in Argentina During the 1994-95 Mexican Crisis : How Did Markets React?
Ganapolsky, Eduardo J.J; Schmukler, Sergio L. - 1999
The Mexican crisis of 1994-95 had strong spillover effects on Argentina. The Argentine government successfully announced a series of policies to mitigate the contagion effects. This paper studies how capital markets reacted to each policy announcement and news. Capital markets welcomed...
Persistent link: https://www.econbiz.de/10014194825
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Capital Market Financing and Firm Growth
Didier, Tatiana - 2020
This paper studies whether there is a connection between finance and growth at the firm level. It employs a new dataset of 150,165 equity and bond issuances around the world, matched with income and balance sheet data for 62,653 listed firms in 65 countries over 1990-2016. Three main patterns...
Persistent link: https://www.econbiz.de/10012826596
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"Living and Dying with Hard Pegs: The Rise and Fall of Argentina's Currency Board"
Torre, Augusto de la; Yeyati, Eduardo Levy; Schmukler, … - In: ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN … (2003)
The rise and fall of Argentina´s currency board illustrates the extent to which the advantages of hard pegs have been overstated. The currency board did provide nominal stability and boosted financial intermediation, at the cost of endogenous financial dollarization, but did not foster fiscal...
Persistent link: https://www.econbiz.de/10009021334
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Distributional Effects of Crises : The Financial Channel
Halac, Marina C. - 2011
Financial crises affect income distribution via different channels. This paper argues that there is an important channel overlooked by the literature, namely the financial channel. We study how this channel operates by analyzing data from several Latin American countries, including Argentina,...
Persistent link: https://www.econbiz.de/10012714837
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Living and Dying with Hard Pegs : The Rise and Fall of Argentina's Currency Board
de la Torre, Augusto - 2004
The rise and fall of Argentina's currency board illustrates the extent to which the advantages of hard pegs have been overstated. The currency board did provide nominal stability and boosted financial intermediation, at the cost of endogenous financial dollarization, but did not foster fiscal or...
Persistent link: https://www.econbiz.de/10012785595
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Distributional Effects of Crises : The Role of Financial Transfers
Halac, Marina C. - 2004
Financial crises affect income distribution via different channels. We argue that financial transfers is an important channel, which has been overlooked by the literature. By analyzing data from the Mexican (1994-1995) and Argentine (2001-2002) crises, we investigate two types of financial...
Persistent link: https://www.econbiz.de/10012786072
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The Internationalization of China's Equity Markets
Cortina Lorente, Juan Jose; Schmukler, Sergio L.; Xiao, … - 2023
China’s equity markets internationalization process started in the early 2000s but accelerated after 2012, when Chinese firms’ shares listed in Shanghai and Shenzhen gradually became available to international investors. This paper studies the effects of the post-2012 internationalization...
Persistent link: https://www.econbiz.de/10014254478
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Living and Dying with Hard Pegs : The Rise and Fall of Argentina's Currency Board
de la Torre, Augusto; Levy-Yeyati, Eduardo Levy; … - 2004
The rise and fall of Argentina's currency board illustrates the extent to which the advantages of hard pegs have been overstated. The currency board did provide nominal stability and boosted financial intermediation, at the cost of endogenous financial dollarization, but did not foster fiscal or...
Persistent link: https://www.econbiz.de/10014102178
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Country Funds and Asymmetric Information
Frankel, Jeffrey A.; Schmukler, Sergio L. - EconWPA - 1998
introduces a model of asymmetric information, that rationalizes our empirical findings. Different perceived risk makes foreign …
Persistent link: https://www.econbiz.de/10005408198
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Market Discipline under Systemic Risk: Evidence from Bank Runs in Emerging Economies
Schmukler, Sergio L.; Levy-Yeyati, Eduardo; Peria, … - Econometric Society - 2004
This paper shows that systemic risk exerts a significant impact on the behavior of depositors, sometimes overshadowing … their responses to standard bank fundamentals. Systemic risk can affect market discipline both regardless of and through … problems. Second, systemic shocks can lead to a future deterioration of fundamentals and affect the exposure to systemic risk …
Persistent link: https://www.econbiz.de/10005328877