科技报告详细信息
The Price of Inconvertible Deposits : The Stock Market Boom during the Argentine Crisis | |
Levy Yeyati, Eduardo ; Schmukler, Sergio L. ; Van Horen, Neeltje | |
World Bank, Washington, DC | |
关键词: FINANCIAL CRISES; ECONOMIC CRISIS; CONVERTIBILITY; DEPOSIT BANKING; STOCK MARKETS; | |
DOI : 10.1596/1813-9450-3146 RP-ID : WPS3146 |
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学科分类:社会科学、人文和艺术(综合) | |
来源: World Bank Open Knowledge Repository | |
【 摘 要 】
The Argentine crisis witnessed, amongother things, a deposit run, the suspension of depositconvertibility, and a "boom" in the stock market.The authors argue that this boom reflects the cost thatdepositors were willing to incur to get their money out ofthe banking system, in light of the impending risks. Thisboom was generalized to all stocks, and more pronounced inliquid stocks. Furthermore, the boom was a symptom thatdeposits were effectively restricted, and that investorswere not able to circumvent capital controls.
【 预 览 】
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