Resumen

JACOME H., Luis I.. La participación de los bancos centrales en las crisis bancarias de la América Latina. Lecciones de los decenios de los noventa y de 2000. El trimestre econ [online]. 2013, vol.80, n.318, pp.283-327. ISSN 2448-718X.

This paper analyzes central banks' role in banking crises in Latin America. It finds that, except in a handful of cases, where bank resolution was timely executed, central bank money was used in large scale to contain and manage systemic and small crises alike. However, pouring money into the financial system tended to fuel macroeconomic unrest and increased the chances of currency crises, in particular in emerging market countries. While subject to some caveats, the conclusions of this paper are relevant and should be taken by developing countries as a warning against excessively expanding central banks' balance sheets to cope with financial crises, as several industrial countries have done it recently.

Palabras llave : crisis bancaria; bancos centrales; política monetaria; mercados emergentes; América Latina..

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