Spillovers Through Banking Centers: A Panel Data Analysis

Publication Date:

May 1, 2000

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

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.

Series:

Working Paper No. 2000/088

Subject:

Bank credit Banking Credit Emerging and frontier financial markets Financial crises Financial institutions Financial markets Foreign banks International banking Money

English

Publication Date:

May 1, 2000

ISBN/ISSN:

9781451851151/1018-5941

Stock No:

WPIEA0882000

Pages:

38

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