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

Eduardo Levy‐yeyati, Maria Martinez Peria and Sergio Schmukler
Authors registered in the RePEc Author Service: Eduardo Levy Yeyati

Journal of Money, Credit and Banking, 2010, vol. 42, issue 4, 585-614

Abstract: 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.

Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
https://doi.org/10.1111/j.1538-4616.2010.00300.x

Related works:
Journal Article: Depositor Behavior under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:jmoncb:v:42:y:2010:i:4:p:585-614

Access Statistics for this article

Journal of Money, Credit and Banking is currently edited by Robert deYoung, Paul Evans, Pok-Sang Lam and Kenneth D. West

More articles in Journal of Money, Credit and Banking from Blackwell Publishing
Bibliographic data for series maintained by Wiley Content Delivery ().