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Riesgos sistémicos en el mercado interbancario en Venezuela, 2004-2014

Systemic risk in the Venezuelan Interbank Market, 2004-2014;
Riscos sistémicos no Mercado Interbancário na Venezuela, 2004-2014

dc.creatorPagliacci, Carolinaspa
dc.creatorPeña, Jenniferspa
dc.date.accessioned2017-06-29T22:22:37Z
dc.date.available2017-06-29T22:22:37Z
dc.date.created2017-03-31
dc.identifier.issn0120-6346
dc.identifier.urihttp://hdl.handle.net/11407/3559
dc.descriptionEste trabajo muestra la aplicación del modelo núcleo-periferia para medir dos dimensiones del riesgo sistémico en el mercado interbancario venezolano: conectividad y patrones de fondeo entre bancos. El período de estudio es de interés porque contiene un episodio de ajuste financiero en el año 2009. Los resultados muestran que posterior a esta fecha, la conectividad del mercado parece haberse reducido, lo que podría redundar en menor riesgo sistémico de contagio. En contraposición, los patrones de fondeo parecen haberse modificado y sugieren que los bancos con más permanencia en el núcleo tienden a tener necesidades de liquidez crecientes, apuntando a mayor riesgo de iliquidez en dichos bancos. Asimismo, la aplicación del modelo contribuye a identificar bancos donde debe focalizarse la supervisión.spa
dc.descriptionThis paper presents a core-periphery model application for measuring two systemic risk dimensions in the Venezuelan inter-bank market: connectivity and funding patterns between banks. The period of study is of special interest given that it includes a financial adjustment during 2009. Results evidence that after this date, market connectivity seems to have dropped, which could lead to a smaller systemic risk spread. In the other hand, funding patterns seem to have been modified and suggest that banks, which belong to the core, tend to present increasing liquidity needs, which increases the liquidity risks of this banks. Likewise, the model application helps to identify which banks should be more closely supervised.spa
dc.descriptionEste trabalho mostra a aplicação do modelo núcleo-periferia para medir duas dimensões do risco sistémico no mercado interbancário venezuelano: conectividade e padrões de ancoragem entre bancos. O período de estudo é de interesse porque contém um episódio de ajuste financeiro no ano 2009. Os resultados mostram que posterior a esta data, a conectividade do mercado parece ter reduzido, o que poderia redundar em menor risco sistémico de contágio. Em contraposição, os padrões de ancoragem parecem ter sido modificado e sugerem que os bancos com mais permanência no núcleo tendem a ter necessidades de liquidez crescentes, apontando a maior risco de iliquidez em ditos bancos. Assim mesmo, a aplicação do modelo contribui a identificar bancos onde deve focalizar-se a supervisão.spa
dc.format.extentp. 95-126spa
dc.format.mediumElectrónicospa
dc.format.mimetypeapplication/pdf
dc.format.mimetypePDF
dc.language.isospa
dc.publisherUniversidad de Medellínspa
dc.relationhttp://revistas.udem.edu.co/index.php/economico/article/view/2097spa
dc.relation.ispartofseriesSemestre Económico Universidad de Medellín; Vol. 20, núm. 42 (2017)spa
dc.relation.haspartSemestre Económico Universidad de Medellín; Vol. 20, núm. 42 - enero-marzo de 2017spa
dc.rights.urihttp://creativecommons.org/licenses/by-nc-sa/4.0/*
dc.sourceSemestre Económico Universidad de Medellín; Vol. 20, núm. 42 (2017); 95-126spa
dc.source2248-4345spa
dc.source0120-6346spa
dc.subjectFinancial systemsspa
dc.subjectCore-periphery modelspa
dc.subjectInterbank marketspa
dc.subjectSystemic riskspa
dc.subjectVenezuelaspa
dc.subjectSistema financierospa
dc.subjectModelo núcleo-periferiaspa
dc.subjectMercado interbancariospa
dc.subjectRiesgo sistémicospa
dc.subjectVenezuelaspa
dc.subjectSistema financeirospa
dc.subjectModelo núcleo-periferiaspa
dc.subjectMercado interbancáriospa
dc.subjectRisco sistémicospa
dc.subjectVenezuelaspa
dc.titleRiesgos sistémicos en el mercado interbancario en Venezuela, 2004-2014spa
dc.titleSystemic risk in the Venezuelan Interbank Market, 2004-2014spa
dc.titleRiscos sistémicos no Mercado Interbancário na Venezuela, 2004-2014spa
dc.typeArticleeng
dc.rights.accessrightsinfo:eu-repo/semantics/openAccess
dc.identifier.doiDOI: http://dx.doi.org/10.22395/seec.v20n42a4
dc.relation.citationvolume20
dc.relation.citationissue42
dc.relation.citationstartpage95
dc.relation.citationendpage126
dc.audienceComunidad Universidad de Medellínspa
dc.publisher.facultyFacultad de Ciencias Económicas y Administrativasspa
dc.coverageLat: 06 15 00 N  degrees minutes  Lat: 6.2500  decimal degreesLong: 075 36 00 W  degrees minutes  Long: -75.6000  decimal degreesspa
dc.publisher.placeMedellínspa
dc.creator.affiliationPagliacci, Carolina; Banco Central de Venezuelaspa
dc.creator.affiliationPeña, Jennifer; Banco Central de Venezuelaspa
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dc.identifier.eissn2248-4345
dc.type.versioninfo:eu-repo/semantics/publishedVersion
dc.type.driverinfo:eu-repo/semantics/article
dc.identifier.reponamereponame:Repositorio Institucional Universidad de Medellínspa
dc.identifier.instnameinstname:Universidad de Medellínspa


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