The low depth of the Argentinian financial system has motivated doubts about the potential of development, even under relatively favorable macroeconomic expectations. Contributing to the analysis of this key industry, the current paper develops a methodology to measure the evolution of the...

The impact of the business cycle on banks’ internally generated cash flows is an important driver in the pro-cyclical dynamics of the traditional banking business. This issue has been understated in the discussion on counter-cyclical regulations. Considerable attention has been given to the...