Global Factors in Capital Flows and Credit Growth
AbstractIt is a cliché that the world has become more connected, but the financial crisis and the boom that preceded it have focused attention on the global factors behind credit growth and capital flows. Calvo, Leiderman and Reinhart (1993, 1996) famously distinguished the global "push" factors for capital flows from the country?specific "pull" factors, and the BIS report on global liquidity (the Landau report) has highlighted the role of cross?border banking in the transmission of financial conditions (BIS (2011)).
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Bibliographic InfoPaper provided by Princeton University, Department of Economics, Center for Economic Policy Studies. in its series Working Papers with number 1467.
Date of creation: Jun 2013
Date of revision:
credit growth; boom; financial crisis; capital flows;
Find related papers by JEL classification:
- D02 - Microeconomics - - General - - - Institutions: Design, Formation, and Operations
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- F30 - International Economics - - International Finance - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-11-02 (All new papers)
- NEP-IFN-2013-11-02 (International Finance)
- NEP-MAC-2013-11-02 (Macroeconomics)
- NEP-OPM-2013-11-02 (Open Economy Macroeconomics)
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