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Monnaie et crise bancaire dans une petite économie ouverte

Published online by Cambridge University Press:  09 January 2015

Jin Cheng
Jin Cheng*
Affiliation:
BETA, l'Unitersité de Strasbourg, 67, avenue de ta Forêt Noire, 67000 Strasbourg, France. Email: cheng@unistra.fr
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Résumé

Cet article développe un modèle intégrant le role de la monnaie et des flux de capitaux internationaux afin d'examiner la fragilité du système bancaire d'une petite économie ouverte dans un contexte de crise financière internationale. Le modèle met l'accent sur les décalages de maturité et de devises au niveau du bilan des banques et illustre comment la contraction du crédit sur le marché financier international, via les banques commerciales, impacte la monnaie et l'activité d'une petite économie. Les effets stabilisants du capital bancaire et du ratio minimal de capital sur le système bancaire sont également examinés. Par ailleurs, le modèle souligne qu'un secteur informel de dimension importante est un facteur défavorable àla stabilisation de la valeur de la monnaie et du système financier.

Summary

Summary

This paper develops an analytical framework of a small open economy, which integrate the money and foreign capital flows for evaluating the fragility of the banking system during an international financial crisis. The framework draws attention to the vulnerabilities created by the maturity and currency mismatches of bank's balance sheet, and it makes transparent how the credit crunch in foreign countries can affect the value of the small economy's currency and its economic activity through commercial banks. The stabilizing effects of the banking capital and of the minimum ratio of capital on the banking system are examined as well. Furthermore, the model implies that an informal sector of large scale is a factor against the stabilization of the domestic money and the financial system.

Keywords

bank runmoney and interest ratesinternational lendingE12E44G35ruée bancairemonnaie et taux intérêtdette internationaleG2E4F34
Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 78 , Issue 1 , March 2012 , pp. 47 - 73
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 2012 

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