La crisis económica actual : ¿es posible un "corralito financiero" en España?

Abstract

From an economic perspective, the last few decades have been very challenging and quite a few have been the nations that have undergone severe economic crisis. Understood as a restrictive financial measure, the term “corralito” refers to a series of polices adopted by governments by which individual bank accounts are frozen and limited cash deposal is implemented. The paper aims to investigate and evaluate the main implications of the so-called “corralito” through the experiences of Argentina and Cyprus. In this sense, the paper will focus in determining the precedent events prior to such “corralito” as well as the possible causes and consequences of this type of adverse economic situations. Thirdly, the papers additional objective is to try and determine any possible structural pattern of behaviour when experiencing a “corralito”, through the previously mentioned causes (Argentina and Cyprus). The final objective of such study is to then try and determine the probability of a “corralito” taking place in a certain country. In the last place, given the recent rumors of appearance of the new “European corralitos”, the paper aims to address whether it is possible or not for the current Spanish economy to experience this type of economic downturn.