Depositor Behavior under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies

Depositor behavior has been associated with bank-specific characteristics, random runs, or contagion episodes. Using evidence on the 2000-02 bank runs in Argentina and Uruguay, this paper shows that macroeconomic risk is also important. Few macroeconomic shocks can quickly cause large runs. Macroeco...

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Main Authors:	Levy-Yeyati, Eduardo, Martinez Peria, Maria Soledad, Schmukler, Sergio L.
Format:	Journal Article
Language:	EN
Published:	2012
Subjects:	Business Fluctuations Cycles E320 Banks Other Depository Institutions Micro Finance Institutions Mortgages G210 Macroeconomic Analyses of Economic Development O110 Economic Development: Financial Markets Saving and Capital Investment Corporate Finance and Governance O160
Online Access:	http://hdl.handle.net/10986/4684

id	okr-10986-4684
recordtype	oai_dc
spelling	okr-10986-46842021-04-23T14:02:19Z Depositor Behavior under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies Levy-Yeyati, Eduardo Martinez Peria, Maria Soledad Schmukler, Sergio L. Business Fluctuations Cycles E320 Banks Other Depository Institutions Micro Finance Institutions Mortgages G210 Macroeconomic Analyses of Economic Development O110 Economic Development: Financial Markets Saving and Capital Investment Corporate Finance and Governance O160 Depositor behavior has been associated with bank-specific characteristics, random runs, or contagion episodes. Using evidence on the 2000-02 bank runs in Argentina and Uruguay, this paper shows that macroeconomic risk is also important. Few macroeconomic shocks can quickly cause large runs. Macroeconomic risk affects deposits regardless of traditional bank-specific characteristics. Furthermore, bank exposure to macroeconomic factors can explain differences in deposit withdrawals. During crises, the evolution of bank-specific characteristics is mainly driven by macroeconomic factors, while the informational content of bank-specific variables declines. Overall, depositors seem responsive to risk in a broader sense than that often considered by the literature. 2012-03-30T07:29:13Z 2012-03-30T07:29:13Z 2010 Journal Article Journal of Money, Credit, and Banking 00222879 http://hdl.handle.net/10986/4684 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article Argentina Uruguay
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	EN
topic	Business Fluctuations Cycles E320 Banks Other Depository Institutions Micro Finance Institutions Mortgages G210 Macroeconomic Analyses of Economic Development O110 Economic Development: Financial Markets Saving and Capital Investment Corporate Finance and Governance O160
spellingShingle	Business Fluctuations Cycles E320 Banks Other Depository Institutions Micro Finance Institutions Mortgages G210 Macroeconomic Analyses of Economic Development O110 Economic Development: Financial Markets Saving and Capital Investment Corporate Finance and Governance O160 Levy-Yeyati, Eduardo Martinez Peria, Maria Soledad Schmukler, Sergio L. Depositor Behavior under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies
geographic_facet	Argentina Uruguay
relation	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description	Depositor behavior has been associated with bank-specific characteristics, random runs, or contagion episodes. Using evidence on the 2000-02 bank runs in Argentina and Uruguay, this paper shows that macroeconomic risk is also important. Few macroeconomic shocks can quickly cause large runs. Macroeconomic risk affects deposits regardless of traditional bank-specific characteristics. Furthermore, bank exposure to macroeconomic factors can explain differences in deposit withdrawals. During crises, the evolution of bank-specific characteristics is mainly driven by macroeconomic factors, while the informational content of bank-specific variables declines. Overall, depositors seem responsive to risk in a broader sense than that often considered by the literature.
format	Journal Article
author	Levy-Yeyati, Eduardo Martinez Peria, Maria Soledad Schmukler, Sergio L.
author_facet	Levy-Yeyati, Eduardo Martinez Peria, Maria Soledad Schmukler, Sergio L.
author_sort	Levy-Yeyati, Eduardo
title	Depositor Behavior under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies
title_short	Depositor Behavior under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies
title_full	Depositor Behavior under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies
title_fullStr	Depositor Behavior under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies
title_full_unstemmed	Depositor Behavior under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies
title_sort	depositor behavior under macroeconomic risk: evidence from bank runs in emerging economies
publishDate	2012
url	http://hdl.handle.net/10986/4684
_version_	1764392386879815680

Depositor Behavior under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies

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