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Spillovers Through Banking Centers

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  • International Monetary Fund

Abstract

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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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 00/88.

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Length: 38
Date of creation: 01 May 2000
Date of revision:
Handle: RePEc:imf:imfwpa:00/88

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Postal: International Monetary Fund, Washington, DC USA
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Related research

Keywords: Banking; Capital outflows; Prices; contagion; bank claims; asian crisis; bank lending; crisis country; currency crisis; financial contagion; crisis countries; recession; crisis episodes; bank of canada; bank creditor; bank lenders; bank exposures; bank lender; bankers; financial crises; crisis episode; bank capital; bank of international settlements; disintermediation; financial crisis; banking statistics; bank credit; industrial bank; bank loans; banks ? loans; banking activities; national bank; investment banking; capital adequacy; banking systems; banking crisis; bank debt; banking system exposures; banking system; bank data; bank of japan; currency crises; earnings growth; banking market; bank portfolios; international financial contagion; foreign exchange; bank responses; low liquidity; tier 1 capital; financial liberalization; denominated loans; asian financial crisis; rating agencies; early warning system; bank losses; banking capital; holding company; bank portfolio; capital base; bank behavior; debt crisis; debt financing; banking sector; banks ? asset; bank creditors;

References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Reinhart, Carmen & Kaminsky, Graciela, 1998. "On crises, contagion, and confusion," MPRA Paper 13709, University Library of Munich, Germany.
  2. Reinhart, Carmen & Kaminsky, Graciela & Lizondo, Saul, 1998. "Leading Indicators of Currency Crises," MPRA Paper 6981, University Library of Munich, Germany.
  3. Joe Peek & Eric S. Rosengren, 1996. "The international transmission of financial shocks: the case of Japan," Working Papers 96-1, Federal Reserve Bank of Boston.
  4. Catherine A. Pattillo & Andrew Berg, 1998. "Are Currency Crises Predictable? a Test," IMF Working Papers 98/154, International Monetary Fund.
  5. Christian B. Mulder & Matthieu Bussière, 1999. "External Vulnerability in Emerging Market Economies," IMF Working Papers 99/88, International Monetary Fund.
  6. Paul R. Masson, 1998. "Contagion," IMF Working Papers 98/142, International Monetary Fund.
  7. Barry Eichengreen & Ashoka Mody, 1998. "What Explains Changing Spreads on Emerging-Market Debt: Fundamentals or Market Sentiment?," NBER Working Papers 6408, National Bureau of Economic Research, Inc.
  8. Anne Jansen & Donald J. Mathieson & Barry J. Eichengreen & Laura E. Kodres & Bankim Chadha & Sunil Sharma, 1998. "Hedge Funds and Financial Market Dynamics," IMF Occasional Papers 166, International Monetary Fund.
  9. T. Todd Smith & Garry J. Schinasi, 1999. "Portfolio Diversification, Leverage, and Financial Contagion," IMF Working Papers 99/136, International Monetary Fund.
  10. International Monetary Fund, 1999. "Sources of Contagion," IMF Working Papers 99/146, International Monetary Fund.
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