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First Workshop of the Latin American Financial Network

12/11/2003 - 12/12/2003

9:00 a.m. - 5:30 p.m.

Universidad Torcuato Di Tella

Buenos Aires, Argentina

Agenda Summary

Seminar Papers:


The first Annual workshop was centered around banking issues. The workshop comprised six academic presentations, one keynote lecture by Nobel economist Joseph Stiglitz and a policy roundtable discussion.

The academic studies centered in the volatility of bank credit. Giovanni Dell'Ariccia from the IMF provided a theoretical explanation for the sequence of financial liberalization, lending booms, and banking crises that have occurred in many emerging markets. The next three studies analyzed the role of different features of the banking industry in the volatility of credit. Nada Mora from MIT discussed the role of partial dollarization on bank credit in Mexico, Matías Braun from the Anderson School of Business (UCLA) showed the importance of accounting standard to smooth credit cycles, and Garrick Blalock from Cornell University discussed whether foreign ownership played any role in bank behavior after a crises. The last two studies, by Marco Arenas from Maryland and Robert Moore from the FED, focused in the role of market discipline to prevent banking crises.

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