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International bank lending to emerging market countries: explaining the 1990s roller coaster

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  • Serge Jeanneau
  • Marian Micu

Abstract

This special feature systematically examines the determinants of changes in the claims of BIS reporting banks on the largest emerging market countries in Asia and Latin America. The work is guided by the hypothesis that lending flows tend to be driven by economic fundamentals but that other factors can also at times be influential. Adopting a well known approach distinguishing between external ("push") and internal ("pull") determinants of lending flows, preliminary results show that both types of factors influence international bank lending. Additional tests suggest that international bank lending may have depended on the prevailing exchange rate regime.

Suggested Citation

  • Serge Jeanneau & Marian Micu, 2002. "International bank lending to emerging market countries: explaining the 1990s roller coaster," BIS Quarterly Review, Bank for International Settlements, March.
    • Handle: RePEc:bis:bisqtr:0203f
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    7. Sophie Brana & Delphine Lahet, 2011. "Foreign Banks and the Stability of Foreign and Domestic Credit in CEECs," Larefi Working Papers 201107, Larefi, Université Bordeaux 4.
    8. Rodrigo Vergara, 2014. "Monetary Policy in Advanced Economies: Some Challenges for Emerging Economies," Economic Policy Papers Central Bank of Chile 51, Central Bank of Chile.
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    12. Sophie Brana & Dalila Chenaf-Nicet & Delphine Lahet, 2023. "Drivers of cross-border bank claims: The role of foreign-owned banks in emerging countries," Working Papers 2023.06, International Network for Economic Research - INFER.
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    16. Alba Carlos & Cuadra Gabriel & Hernández Juan R. & Ibarra-Ramírez Raúl, 2021. "Capital Flows to Emerging Economies and Global Risk Aversion during the COVID-19 Pandemic," Working Papers 2021-17, Banco de México.
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    20. Patrick McGuire & Martijn A Schrijvers, 2003. "Common factors in emerging market spreads," BIS Quarterly Review, Bank for International Settlements, December.

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