Spillovers Through Banking Centers
AbstractTo 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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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 00/88.
Date of creation: 01 May 2000
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