Liberalization and Financial Crisis in Uruguay (1974-1987)

Alfredo Leone and Juan Pérez-Campanero

No 1991/030, IMF Working Papers from International Monetary Fund

Abstract: The financial system in Uruguay underwent a serious crisis beginning in 1982, which resulted in the failure of many banks and to a major restructuring of the financial system. This paper examines the causes and consequences of this crisis, exploring the relationship between developments in the financial sector and those in the rest of the economy. It also discusses the effect of financial liberalization, and government policies in banking regulation and supervision on the crisis, as well as the measures that the government took to deal with the crisis.

Keywords: WP; foreign currency; financial crisis; crawling peg; balance of payments; banking system; private sector; Banco de la República Oriental del Uruguay; basic rate; monetary management; Uruguayan peso; bank asset; Banco de Italia; creditor bank; financial activity; inflation rate; prime lending rate; Bank deposits; Commercial banks; Loans; Real interest rates; Global (search for similar items in EconPapers)
Pages: 134
Date: 1991-03-01
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1991/030

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