Spillovers Through Banking Centers: A Panel Data Analysis
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.
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Volume/Issue:
Volume 2000
Issue 088
Publication date: May 2000
ISBN: 9781451851151
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Business and Economics , Banks and Banking , Finance , Money and Monetary Policy , WP , bank , lender effect , crisis , Contagion , Currency Crisis , Financial Spillovers , bank flow , bank claim , country bank capital , bank portfolio , Emerging and frontier financial markets , Bank credit , Credit , Foreign banks , East Asia , Asia and Pacific , North America , Eastern Europe , Global
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.
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