Spillovers Through Banking Centers: A Panel Data Analysis

May 1, 2000

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

To test the role of bank lending in transmitting currency crisis we examine a panel of BIS data on bank flows to 30 emerging markets disaggregated by 11 banking centers. We find that bank exposures to a crisis country help predict bank flows in third countries after the Mexican and Asian crisis, but not after the Russian crisis. In the latter, there is evidence of a generalized outflow from emerging markets, rather than outflows linked to prior exposure to Russia.

Subject: Bank credit, Banking, Credit, Emerging and frontier financial markets, Financial crises, Financial institutions, Financial markets, Foreign banks, International banking, Money

Keywords: Asia and Pacific, bank, bank claim, Bank credit, bank flow, bank portfolio, Contagion, country bank capital, Credit, crisis, Currency Crisis, East Asia, Eastern Europe, Emerging and frontier financial markets, Financial Spillovers, Foreign banks, Global, lender effect, North America, WP

Pages:
38
Volume:
2000
DOI:
https://doi.org/10.5089/9781451851151.001
Issue:
088
Series:
Working Paper No. 2000/088
Stock No:
WPIEA0882000
ISBN:
9781451851151
ISSN:
1018-5941

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