Choques Externos, Regulación y Crisis Bancarias en el Perú: Una revisión para el periodo 1990-2009

This paper analyzes and compares the prior and subsequent performance that the banking and monetary regulation had in Peru against external shocks caused by the international financial crises of 1997 and 2007, where only the first one triggered a banking crisis, although the stronger external shock occurred in the second one. In the document some relative improvements in the banking and monetary regulation are evidenced, but keeping many of the structural vulnerabilities that originated precisely the banking crisis of 1998-1999. Therefore, it cannot assure that the answer to why a banking crisis in 2008-2009 did not take place in Peru has been only in the performance of the regulation. In the end, in addition to the conclusions, an agenda of pending regulatory improvements is outlined.