A chronicle of a Latin American country financial crash: the case of Venezuela
Fuente:
Redalyc
Saved in:
| Main Author: | |
|---|---|
| Format: | Artículo científico |
| Language: | en |
| Published: |
Universidad Central de Venezuela
2000
|
| Subjects: | |
| Online Access: | |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1876452847484141568 |
|---|---|
| author | Leonardo V. Vera |
| author_facet | Leonardo V. Vera |
| contents | A chronicle of a Latin American country financial crash: the case of Venezuela Leonardo V. Vera Economía y Finanzas Venezuela Latin America Financial Crash Between 1994 and 1995 the Venezuelan banking experienced a drastic financial crash that eventually took half of the banking industry down, created a wave of bankruptcies of enterprises, distorted public finances (as government assistance to ailing banks mounted), and generated a balance of payments crisis. This paper details the events that precipitated Venezuelas financial crisis and examines how the problems took shape The paper outlines the factors that cause and precipitate a financial collapse. These are summarized in three broad categories, namely: the macroeconomic context, the institutional setting, and policy orientation. The Venezuelan experience demonstrates that the so-presumed coherence between orthodox reforms and financial liberalization should not be exaggerated. If the reforms itself generate transitory but severe macroeconomic instability and are implemented without taking care of a fragile institutional setting and an already dangerous trend in banking operations, the results can be counter-productive. 2000 artículo científico 1315-3617 https://www.redalyc.org/articulo.oa?id=36460207 en http://www.redalyc.org/revista.oa?id=364 Revista Venezolana de Análisis de Coyuntura application/pdf Universidad Central de Venezuela Revista Venezolana de Análisis de Coyuntura (República Bolivariana de Venezuela) Num.2 Vol.VI |
| format | Artículo científico |
| id | redalyc_36460207 |
| institution | Redalyc |
| language | en |
| publishDate | 2000 |
| publisher | Universidad Central de Venezuela |
| spellingShingle | A chronicle of a Latin American country financial crash: the case of Venezuela Leonardo V. Vera Economía y Finanzas Venezuela Latin America Financial Crash A chronicle of a Latin American country financial crash: the case of Venezuela Leonardo V. Vera Economía y Finanzas Venezuela Latin America Financial Crash Between 1994 and 1995 the Venezuelan banking experienced a drastic financial crash that eventually took half of the banking industry down, created a wave of bankruptcies of enterprises, distorted public finances (as government assistance to ailing banks mounted), and generated a balance of payments crisis. This paper details the events that precipitated Venezuelas financial crisis and examines how the problems took shape The paper outlines the factors that cause and precipitate a financial collapse. These are summarized in three broad categories, namely: the macroeconomic context, the institutional setting, and policy orientation. The Venezuelan experience demonstrates that the so-presumed coherence between orthodox reforms and financial liberalization should not be exaggerated. If the reforms itself generate transitory but severe macroeconomic instability and are implemented without taking care of a fragile institutional setting and an already dangerous trend in banking operations, the results can be counter-productive. 2000 artículo científico 1315-3617 https://www.redalyc.org/articulo.oa?id=36460207 en http://www.redalyc.org/revista.oa?id=364 Revista Venezolana de Análisis de Coyuntura application/pdf Universidad Central de Venezuela Revista Venezolana de Análisis de Coyuntura (República Bolivariana de Venezuela) Num.2 Vol.VI |
| title | A chronicle of a Latin American country financial crash: the case of Venezuela |
| topic | Economía y Finanzas Venezuela Latin America Financial Crash |
| url | https://www.redalyc.org/articulo.oa?id=36460207 |