Bibliografía: p. 47-48.

This study examines the recent marked slowdown in bank credit to the private sector in Latin America. Based on the study of eight countries (Argentina, Bolivia, Brazil, Chile, Colombia, Peru, Mexico and Venezuela), the magnitude of the slowdown is documented, comparing it historical behavior and to slwdown episodes in other regions of the world. Second, changes in bank balance sheets are examined to determine wehter the credit slwdown is merely a refletcion of a slowdown in bank deposits, or wether the asset side has changed. Third, following an econometric desequilibrium approach used in recent studies of credit slowdowns in East Asia and Finland, the paper investigates possible causes for the slowdown in three countries: Colombia, Mexico and Peru. While both supply and demand factors appear to have played key roles, their relative importance has varied across countries.