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Revista de Análisis del Banco Central de Bolivia
versión impresa ISSN 2304-8875
Resumen
DIAZ QUEVEDO, Oscar A. Identifying credit booms in Latin America. Revista de Análisis [online]. 2013, vol.19, n.2, pp. 9-56. ISSN 2304-8875.
In recent years loans to the private sector grew remarkably in Latin America. A central issue is to determine whether this constitutes a dynamic process of convergence towards equilibrium levels or if it represents a threat to financial and monetary stability. This study attempts to answer this question with statistical and econometric techniques using a sample of 18 Latin American countries. Statistical techniques allow determining credit deviation of credit relative to its long-term trend, while the econometric approach allows analyzing the behavior of loans related to their underlying fundamentals. According to the first approach the countries of the region would not be experiencing periods of credit booms, while the conclusions of the econometric model indicate that the majority of Latin American countries have lower levels of financial deepening considering their equilibrium levels.
Palabras llave : Credit boom; financial deepening.