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Gauging Procyclicality and Financial Vulnerability in Asia through the BIS Banking and Financial Statistics

In: THE ASIAN MONETARY POLICY FORUM Insights for Central Banking

Author

Listed:
  • Stefan Avdjiev
  • Bat-el Berger
  • Hyun Song Shin

Abstract

We look back at past episodes of financial stress in Asia with a forward-looking perspective. We put ourselves in the shoes of a contemporary observer with the data at hand and ask what evidence was available on the systematic build-up of vulnerabilities. We reconstruct a graphical narrative of banking and financial developments at the time. Our exercise aims to showcase the usefulness of the BIS international banking and financial statistics as a window on the financial system’s procyclicality. We conclude with a real-time forward-looking exercise on financial vulnerabilities, focusing on the implications of the shift in the pattern of credit intermediation from banks to bond markets.

Suggested Citation

  • Stefan Avdjiev & Bat-el Berger & Hyun Song Shin, 2021. "Gauging Procyclicality and Financial Vulnerability in Asia through the BIS Banking and Financial Statistics," World Scientific Book Chapters, in: Steven J Davis & Edward S Robinson & Bernard Yeung (ed.), THE ASIAN MONETARY POLICY FORUM Insights for Central Banking, chapter 6, pages 224-262, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811238628_0006
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    Cited by:

    1. is not listed on IDEAS
    2. McQuinn, Kieran, 2018. "Capacity constraints in the Irish economy? A partial equilibrium approach," Research Notes RN20180401, Economic and Social Research Institute (ESRI).
    3. Nina Boyarchenko & Leonardo Elias & Philippe Mueller, 2019. "Corporate Credit Provision," Staff Reports 895, Federal Reserve Bank of New York.
    4. Jörg Bibow, 2019. "20 years of the German euro are more than enough," Revista de Economia Critica, Universidad Pablo de Olavide y Asociacion de Economia Critica, vol. 27, pages 32-46.
    5. Bryan Hardy & Patrick McGuire & Goetz von Peter, 2024. "International finance through the lens of BIS statistics: bank exposures and country risk," BIS Quarterly Review, Bank for International Settlements, September.
    6. Joerg Bibow, 2018. "Twenty Years of the German Euro Are More than Enough," Economics Working Paper Archive wp_911, Levy Economics Institute.

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    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates

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