Filter case studies by:

Share this
  • Share on Twitter
  • Share on facebook

Luis Garicano

Read their case study

Resources related to the case study: 

About the authors and departments

Luis Garicano:

Vicente Cuñat:

Management Department (Garicano):

Finance Department (Cuñat):

Relevant research

Garicano, Luis and Esteban Rossi-Hansberg (2012) “Organizing Growth” Journal of Economic Theory, 147:2623-656.

Garicano, Luis and Vicente Cuñat (2010) “Concedieron las cajas “buenas” créditos “malos”? Gobierno corporativo, capital humano y carteras de créditos?”, Chapter 6 in FEDEA Monograph La crisis de la economía española. Análisis económico de la gran recesión, edited by Samuel Bentolila, Michele Boldrin, Javier Díaz-Giménez y Juan J. Dolado.

Cuñat Vicente and Luis Garicano (2009) "Did Good Cajas Extend Bad Loans? Governance, Human Capital and Loan Portfolios," Working Papers 2010-08, FEDEA. Presented at the Bank of Spain in October 2009 with the attendance of top Bank of Spain management.

Villaverde, Jesus , Luis Garicano, and Tano Santos (2013) “Political Credit Cycles: The Case of the Euro Zone”, Journal of Economic Perspectives 27 (3): 145-66.

Garicano, Luis (2012) “Five lessons from the Spanish Cajas debacle for a new euro wide supervisor” in Beck, Thorsten ed., Banking Union for Europe: Risks and Challenges, VoxEU eBook, October.

Evidence of impact

Impact on IMF’s position and on MoU: IMF Technical Report on the Reform of Spain’s savings banks: “Spain: The Reform of Spanish Savings Banks Technical Notes “June 2012 IMF Country Report No. 12/141, cites Garicano and Cuñat (2009):

Impact on public opinion (selected press sources): La politización eleva la morosidad de las cajas en 12.000 millones. Iñigo Barrón, El Pais, 31. October 2009.

¿Para cuándo la restructuración del sistema financiero español OpEd by Vicente Cuñat and Luis Garicano, El País, 13 September 2009.

La cajas con presidentes que han sido políticos sufren una mayor morosidad.‎

Relevant video and audio: Luis Garicano speaks at LSE panel on ‘Eurozone deadlock – Finding a path out of the crisis’ (February 2013):

Luis Garicano speaks at LSE public event called ‘The Naked Swimmer: Can Spain (and the Euro) overcome this crisis’ (January 2011):

Luis Garicano on Bloomberg News talking about the stability of Spain (March 2012):

Read their case study