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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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    3. Hardik A. Marfatia, 2016. "The Role of Push and Pull Factors in Driving Global Capital Flows," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot GmbH, Berlin, vol. 62(2), pages 117-146.
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    6. Dahl, Drew & Logan, Andrew, 2007. "The exposure of international banks to cross-country interdependencies: An empirical analysis of overdue claims," Journal of Multinational Financial Management, Elsevier, vol. 17(3), pages 203-213, July.
    7. Fabian J. Baier & Paul J. J. Welfens, 2019. "The UK’s banking FDI flows and Total British FDI: a dynamic BREXIT analysis," International Economics and Economic Policy, Springer, vol. 16(1), pages 193-213, March.
    8. Sophie Brana & Delphine Lahet, 2011. "Foreign banks and the stability of foreign and domestic credit in CEECs," Working Papers hal-00637686, HAL.
    9. Yudhistira, Bintang, 2018. "The Effects of Financial Crises on Developing Countries," MPRA Paper 91883, University Library of Munich, Germany.
    10. Carlos Alba & Gabriel Cuadra & Juan R. Hernandez & Raul Ibarra, 2024. "Capital flows to emerging economies and global risk aversion during the COVID‐19 pandemic," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(3), pages 2804-2836, July.
    11. Brana, Sophie & Lahet, Delphine, 2010. "Determinants of capital inflows into Asia: The relevance of contagion effects as push factors," Emerging Markets Review, Elsevier, vol. 11(3), pages 273-284, September.
    12. Apanard P. Angkinand & Thomas D. Willett, 2011. "Exchange rate regimes and banking crises: the channels of influence investigated," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 16(3), pages 256-274, July.
    13. Fazelina Sahul Hamid, 2013. "The Effect of Reliance on International Funding on Banking Fragility: Evidence from East Asia," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 7(1), pages 29-60, February.
    14. 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.
    15. 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.
    16. Serge Jeanneau & Marian Micu, 2002. "Determinants of international bank lending to emerging market countries," BIS Working Papers 112, Bank for International Settlements.
    17. Brana, Sophie & Lahet, Delphine, 2009. "Les déterminants des entrées de capitaux en Asie : quel rôle pour les stratégies de carry trade?," L'Actualité Economique, Société Canadienne de Science Economique, vol. 85(3), pages 283-302, septembre.
    18. Alqahtani, Faisal & Mayes, David G., 2018. "Financial stability of Islamic banking and the global financial crisis: Evidence from the Gulf Cooperation Council," Economic Systems, Elsevier, vol. 42(2), pages 346-360.
    19. 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.
    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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