Credit Growth In Latin America

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Credit Growth In Latin America

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Author : Niels-Jakob Harbo Hansen
language : en
Publisher: International Monetary Fund
Release Date : 2013-05-10

Credit Growth In Latin America written by Niels-Jakob Harbo Hansen and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-10 with Business & Economics categories.

Banking credit to the private sector in Latin America has on average increased by 7 percent of GDP from primo 2004 to ultimo 2011, with real credit in some countries growing by up to 20 percent per year. This paper documents and analyzes the patterns of credit growth in 18 countries in Latin America and uses econometric methods to determine whether it is indicative of financial deepening or poses risks of credit booms. The strongest credit growth occurred for consumption and mortgages within the household sector and for construction within the corporate sector. At the same time credit has de-dollarized in most countries and there are some signs of maturity lengthening. To assess whether the recent credit growth is excessive two different methods are applied. First, by application of HP-filters the paper finds that credit-to-GDP levels in a number of countries are above their long-term trend. Second, using a panel co-integration approach on 107 high and mid-income countries the paper estimates a model for the credit-to-GDP levels. Comparing the actual levels of credit with the ones predicted by the model we find that some countries in Latin America show significant and positive deviations. These results indicate the existence of a certain level of risk in the recent credit developments.

Credit Growth And The Effectiveness Of Reserve Requirements And Other Macroprudential Instruments In Latin America

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2012-06-01

Credit Growth And The Effectiveness Of Reserve Requirements And Other Macroprudential Instruments In Latin America written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-01 with Business & Economics categories.

Over the past decade policy makers in Latin America have adopted a number of macroprudential instruments to manage the procyclicality of bank credit dynamics to the private sector and contain systemic risk. Reserve requirements, in particular, have been actively employed. Despite their widespread use, little is known about their effectiveness and how they interact with monetary policy. In this paper, we examine the role of reserve requirements and other macroprudential instruments and report new cross-country evidence on how they influence real private bank credit growth. Our results show that these instruments have a moderate and transitory effect and play a complementary role to monetary policy.

Credit Growth And The Effectiveness Of Reserve Requirements And Other Macroprudential Instruments In Latin America

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Author : Camilo Ernesto Tovar Mora
language : en
Publisher:
Release Date : 2012-06-01

Credit Growth And The Effectiveness Of Reserve Requirements And Other Macroprudential Instruments In Latin America written by Camilo Ernesto Tovar Mora and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-01 with Banking law categories.

Over the past decade policy makers in Latin America have adopted a number of macroprudential instruments to manage the procyclicality of bank credit dynamics to the private sector and contain systemic risk. Reserve requirements, in particular, have been actively employed. Despite their widespread use, little is known about their effectiveness and how they interact with monetary policy. In this paper, we examine the role of reserve requirements and other macroprudential instruments and report new cross-country evidence on how they influence real private bank credit growth. Our results show that these instruments have a moderate and transitory effect and play a complementary role to monetary policy.

Credit Constraints And Investment In Latin America

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Author : Arturo J. Galindo
language : en
Publisher: IDB
Release Date : 2003

Credit Constraints And Investment In Latin America written by Arturo J. Galindo and has been published by IDB this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.

The Global Credit Crunch And Foreign Banks Lending To Emerging Markets

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Author : Herman Kamil
language : en
Publisher: International Monetary Fund
Release Date : 2010-04-01

The Global Credit Crunch And Foreign Banks Lending To Emerging Markets written by Herman Kamil and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-01 with Business & Economics categories.

The recent global financial turmoil raised questions about the stability of foreign banks' financing to emerging market countries. While foreign banks' lending growth to most emerging market regions contracted sharply, lending to Latin America and the Caribbean (LAC) was significantly more resilient. Analyzing detailed BIS data on global banks' lending to LAC countries-whether extended directly by their headquarters abroad or by their local affiliates in host countries-we show that the propagation of the global credit crunch was significantly more muted in countries where most of foreign banks' lending was channeled in domestic currency. We also show that foreign banks' involvement in LAC has differed in fundamental ways from that in other regions, with most of their lending to LAC conducted by their local subsidiaries, denominated in domestic currency and funded from a domestic deposit base. These characteristics help explain why LAC has not been struck as hard as other emerging markets by the global deleveraging and pullback in foreign banks' lending.

Did The Basel Accord Cause A Credit Slowdown In Latin America

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Author : Mr.Adolfo Barajas
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2005-02-01

Did The Basel Accord Cause A Credit Slowdown In Latin America written by Mr.Adolfo Barajas and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-02-01 with Business & Economics categories.

Drawing from a unique data set comprising 2,893 banks and 152 countries over the period 1987 to 2000, we test whether the adoption of the Basel Accord by Latin American and Caribbean countries was responsible for the serious slowdowns in credit growth experienced by these countries. We find that, on average, both bank capitalization and lending activities in Latin America increased after Basel. Consequently, Basel did not seem to lead to an overall credit decline. However, we do find evidence that loan growth became more sensitive to some risk factors. Our study suggests that the upcoming adoption of Basel II might cause greater procyclicality of credit.

Credit Stagnation In Latin America

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Author : Adolfo Barajas
language : en
Publisher: International Monetary Fund
Release Date : 2002-03

Credit Stagnation In Latin America written by Adolfo Barajas and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-03 with Business & Economics categories.

This study examines the recent marked slowdown in bank credit to the private sector in Latin America. Based on the study of eight countries (Argentina, Bolivia, Brazil, Chile, Colombia, Peru, Mexico, and Venezuela), the magnitude of the slowdown is documented, comparing it to historical behavior and to slowdown episodes in other regions of the world. Second, changes in bank balance sheets are examined to determine whether the credit slowdown is merely a reflection of a slowdown in bank deposits, or whether the asset side has changed. Third, following an econometric disequilibrium approach used in recent studies of credit slowdowns in East Asia and Finland, the paper investigates possible causes for the slowdown in three countries: Colombia, Mexico, and Peru. While both supply and demand factors appear to have played key roles, their relative importance has varied across countries.

Bank Ownership And Credit Growth In Emerging Markets During And After The 2008 09 Financial Crisis A Cross Regional Comparison

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Author : Guodong Chen
language : en
Publisher: International Monetary Fund
Release Date : 2014-09-15

Bank Ownership And Credit Growth In Emerging Markets During And After The 2008 09 Financial Crisis A Cross Regional Comparison written by Guodong Chen and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-15 with Business & Economics categories.

This paper examines bank credit growth in emerging markets before, during, and after the 2008-09 financial crisis using bank-level data, focusing on the role of bank ownership. Credit growth by foreign banks lagged behind that of domestic banks in 2009 in Asia, and in 2010 in Latin America and emerging Europe. State-owned banks instead played a counter-cyclical role during the crisis in particular in Latin America and emerging Europe, and credit by stateowned banks also grew faster than that of private banks after the crisis in Latin America. Expansionary monetary policy on average led to higher credit growth. Banks in Latin America and Asia that relied more on retail funding had higher credit growth, in particular during the crisis. Better-capitalized banks and banks with more liquid assets also had faster credit growth. Finally, banks in countries with stronger banking regulation had higher credit growth during the crisis.

Finance For Development

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Author : Barbara Stallings
language : en
Publisher: Rowman & Littlefield
Release Date : 2006-03-08

Finance For Development written by Barbara Stallings and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-03-08 with Business & Economics categories.

A Brookings Institution Press and Economic Commission for Latin America and the Caribbean (ECLAC) publication Access to finance is critical in setting the course for development in emerging market economies. In this innovative study, which provides the first book-length analysis of the Latin American financial sector, Barbara Stallings and Rogerio Studart examine the dramatic changes resulting from financial liberalization in the region. The authors begin by discussing the critical transformations taking place in Latin America since 1990—a period marked by acceleration toward a new open, market-oriented development model, and away from a semi-closed model relying heavily on the state. Stallings and Studart examine changes in ownership of the financial sector and government regulation of banking, evaluate the role of capital markets as a source of finance, and compare Latin America's financial sector to that of East Asia. The second section of the book features case studies that demonstrate the changes occurring in Chile, Mexico, and Brazil with particular reference to finance for investment and access to credit. The authors conclude with a set of policy recommendations aimed at strengthening Latin American banks and capital markets so that they can play a greater role in supporting economic development.

Advancing Financial Development In Latin America And The Caribbean

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Author : Dyna Heng
language : en
Publisher: International Monetary Fund
Release Date : 2016-04-12

Advancing Financial Development In Latin America And The Caribbean written by Dyna Heng and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-12 with Business & Economics categories.

This paper examines the state of financial development in the Latin America and Caribbean (LAC) region as well as potential growth and stability implications from further development. The analysis suggests that access to financial institutions has expanded notably in the past decade, and the region compares favorably with other emerging market regions on this dimension. The region, however, continues to lag behind peers on broader financial development, especially with respect to markets, though there is substantial heterogeneity across countries. Financial systems in many LAC countries are also underdeveloped relative to their macroeconomic fundamentals. Further financial development could convey net benefits to the region, provided there is adequate regulatory oversight to prevent excesses.