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Determining the causes of bank runs in Argentina during the crisis of 2001

George McCandless (), Maria Gabrielli and María Josefina Rouillet ()
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George McCandless: Central Bank of Argentina
María Josefina Rouillet: Central Bank of Argentina

Revista de Analisis Economico – Economic Analysis Review, 2003, vol. 18, issue 1, 87-102

Abstract: We use monthly panel data information on Argentine banks to try to explain the variation in deposits during the 2001 crisis. The variables used are related to the solvency condition of the bank, whether it is public or private, interest rates for each bank and macroeconomic variables referred to general economic conditions. We use our empirical results to attempt to determine whether the bank run is best explained by a self-fulfilling prophecy theory or if fundamentals matter. We find that bank fundamentals show statistically significant coefficients, and with expected sign, providing evidence in favor of the solvency theory.

Keywords: Corridas bancarias; datos de panel; fundamentals; variables macro; teoría de solvencia (search for similar items in EconPapers)
JEL-codes: C33 E44 (search for similar items in EconPapers)
Date: 2003
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