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Non-performing loans in Latin America: determinants and macroeconomic effects
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The paper investigates the determinants of non-performing loans in 13 Latin American countries using a panel data approach from 2005to 2017. The study demonstrates that macroeconomic and bank variables are statistically significant through the estimation. Further, in order to determine the feedback effects of NPLs and economic activity, the Vector Autoregressive(VAR) model is employed with Impulse Response Functions (IRFs). The results suggest that exist strong interactions between the real economy and banking system.
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Monetary economics Asset pricing Interest rates Information Fiscal policy