The Price of Inconvertible Deposits : The Stock Market Boom during the Argentine Crisis
The Argentine crisis witnessed, among other things, a deposit run, the suspension of deposit convertibility, and a "boom" in the stock market. The authors argue that this boom reflects the cost that depositors were willing to incur to get...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2003/10/2579640/price-inconvertible-deposits-stock-market-boom-during-argentine-crisis http://hdl.handle.net/10986/18037 |
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okr-10986-180372021-04-23T14:03:41Z The Price of Inconvertible Deposits : The Stock Market Boom during the Argentine Crisis Levy Yeyati, Eduardo Schmukler, Sergio L. Van Horen, Neeltje FINANCIAL CRISES ECONOMIC CRISIS CONVERTIBILITY DEPOSIT BANKING STOCK MARKETS BANKING SYSTEMS RISK AVERSION LIQUIDITY (ECONOMICS) FISCAL CONSTRAINTS BANKING REGULATIONS CAPITAL CONTROLS CAPITAL FLIGHT CAPITAL FLIGHT ARBITRAGE BANK DEPOSITS BANK RUN BANKING CRISIS BANKING SECTOR BANKING SYSTEM CAPITAL CONTROLS CAPITAL FLIGHT CAPITAL INFLOWS CAPITAL MARKETS CAPITAL OUTFLOWS CAPITALIZATION CENTRAL BANK COST FUNCTIONS CURRENCY BOARD DEVALUATION DISCOUNT RATE DOLLAR DEPOSITS EMERGING MARKETS EQUITY MARKETS EXCHANGE RATE EXPENDITURES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL MARKETS FINANCIAL SERVICES FINANCIAL SYSTEM FISCAL FEDERALISM FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FREE TRADE INFLATION INTERNATIONAL FINANCIAL MARKETS LABOR MARKET LIQUIDITY MACROECONOMICS MARKET ACCESS MARKET CAPITALIZATION MARKET SEGMENTATION MIGRATION PORTFOLIO PRICE CAPS PRICE INDEX PRIVATE SECTOR SAVINGS SAVINGS DEPOSITS STOCK EXCHANGE STOCK EXCHANGE INDEX STOCK EXCHANGES STOCK MARKET STOCK MARKETS STOCK PRICES STOCKS TRADE DIVERSION TRADE REFORMS USE VALUE WTO ARBITRAGE The Argentine crisis witnessed, among other things, a deposit run, the suspension of deposit convertibility, and a "boom" in the stock market. The authors argue that this boom reflects the cost that depositors were willing to incur to get their money out of the banking system, in light of the impending risks. This boom was generalized to all stocks, and more pronounced in liquid stocks. Furthermore, the boom was a symptom that deposits were effectively restricted, and that investors were not able to circumvent capital controls. 2014-04-25T14:24:58Z 2014-04-25T14:24:58Z 2003-10 http://documents.worldbank.org/curated/en/2003/10/2579640/price-inconvertible-deposits-stock-market-boom-during-argentine-crisis http://hdl.handle.net/10986/18037 English en_US Policy Research Working Paper;No. 3146 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research Latin America & Caribbean ARGENTINA |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
FINANCIAL CRISES ECONOMIC CRISIS CONVERTIBILITY DEPOSIT BANKING STOCK MARKETS BANKING SYSTEMS RISK AVERSION LIQUIDITY (ECONOMICS) FISCAL CONSTRAINTS BANKING REGULATIONS CAPITAL CONTROLS CAPITAL FLIGHT CAPITAL FLIGHT ARBITRAGE BANK DEPOSITS BANK RUN BANKING CRISIS BANKING SECTOR BANKING SYSTEM CAPITAL CONTROLS CAPITAL FLIGHT CAPITAL INFLOWS CAPITAL MARKETS CAPITAL OUTFLOWS CAPITALIZATION CENTRAL BANK COST FUNCTIONS CURRENCY BOARD DEVALUATION DISCOUNT RATE DOLLAR DEPOSITS EMERGING MARKETS EQUITY MARKETS EXCHANGE RATE EXPENDITURES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL MARKETS FINANCIAL SERVICES FINANCIAL SYSTEM FISCAL FEDERALISM FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FREE TRADE INFLATION INTERNATIONAL FINANCIAL MARKETS LABOR MARKET LIQUIDITY MACROECONOMICS MARKET ACCESS MARKET CAPITALIZATION MARKET SEGMENTATION MIGRATION PORTFOLIO PRICE CAPS PRICE INDEX PRIVATE SECTOR SAVINGS SAVINGS DEPOSITS STOCK EXCHANGE STOCK EXCHANGE INDEX STOCK EXCHANGES STOCK MARKET STOCK MARKETS STOCK PRICES STOCKS TRADE DIVERSION TRADE REFORMS USE VALUE WTO ARBITRAGE |
| spellingShingle |
FINANCIAL CRISES ECONOMIC CRISIS CONVERTIBILITY DEPOSIT BANKING STOCK MARKETS BANKING SYSTEMS RISK AVERSION LIQUIDITY (ECONOMICS) FISCAL CONSTRAINTS BANKING REGULATIONS CAPITAL CONTROLS CAPITAL FLIGHT CAPITAL FLIGHT ARBITRAGE BANK DEPOSITS BANK RUN BANKING CRISIS BANKING SECTOR BANKING SYSTEM CAPITAL CONTROLS CAPITAL FLIGHT CAPITAL INFLOWS CAPITAL MARKETS CAPITAL OUTFLOWS CAPITALIZATION CENTRAL BANK COST FUNCTIONS CURRENCY BOARD DEVALUATION DISCOUNT RATE DOLLAR DEPOSITS EMERGING MARKETS EQUITY MARKETS EXCHANGE RATE EXPENDITURES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL MARKETS FINANCIAL SERVICES FINANCIAL SYSTEM FISCAL FEDERALISM FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FREE TRADE INFLATION INTERNATIONAL FINANCIAL MARKETS LABOR MARKET LIQUIDITY MACROECONOMICS MARKET ACCESS MARKET CAPITALIZATION MARKET SEGMENTATION MIGRATION PORTFOLIO PRICE CAPS PRICE INDEX PRIVATE SECTOR SAVINGS SAVINGS DEPOSITS STOCK EXCHANGE STOCK EXCHANGE INDEX STOCK EXCHANGES STOCK MARKET STOCK MARKETS STOCK PRICES STOCKS TRADE DIVERSION TRADE REFORMS USE VALUE WTO ARBITRAGE Levy Yeyati, Eduardo Schmukler, Sergio L. Van Horen, Neeltje The Price of Inconvertible Deposits : The Stock Market Boom during the Argentine Crisis |
| geographic_facet |
Latin America & Caribbean ARGENTINA |
| relation |
Policy Research Working Paper;No. 3146 |
| description |
The Argentine crisis witnessed, among
other things, a deposit run, the suspension of deposit
convertibility, and a "boom" in the stock market.
The authors argue that this boom reflects the cost that
depositors were willing to incur to get their money out of
the banking system, in light of the impending risks. This
boom was generalized to all stocks, and more pronounced in
liquid stocks. Furthermore, the boom was a symptom that
deposits were effectively restricted, and that investors
were not able to circumvent capital controls. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Levy Yeyati, Eduardo Schmukler, Sergio L. Van Horen, Neeltje |
| author_facet |
Levy Yeyati, Eduardo Schmukler, Sergio L. Van Horen, Neeltje |
| author_sort |
Levy Yeyati, Eduardo |
| title |
The Price of Inconvertible Deposits : The Stock Market Boom during the Argentine Crisis |
| title_short |
The Price of Inconvertible Deposits : The Stock Market Boom during the Argentine Crisis |
| title_full |
The Price of Inconvertible Deposits : The Stock Market Boom during the Argentine Crisis |
| title_fullStr |
The Price of Inconvertible Deposits : The Stock Market Boom during the Argentine Crisis |
| title_full_unstemmed |
The Price of Inconvertible Deposits : The Stock Market Boom during the Argentine Crisis |
| title_sort |
price of inconvertible deposits : the stock market boom during the argentine crisis |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2003/10/2579640/price-inconvertible-deposits-stock-market-boom-during-argentine-crisis http://hdl.handle.net/10986/18037 |
| _version_ |
1764438736514318336 |