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| Tekijä: | Rijckeghem, C. Van Weder, B. |
| Otsikko: | Spillovers through banking centres: a panel data analysis of bank flows |
| Lehti: | Journal of International Money and Finance
2003 : AUG, VOL. 22:4, p. 483-509 |
| Asiasana: | Banking Crises Currency International banks |
| Vapaa asiasana: | Contagion |
| Kieli: | eng |
| Tiivistelmä: | Evidence that spillovers through bank lending contributed to the transmission of currency crises during the episodes of financial instability in emerging markets is presented in this paper. The innovation of the paper is that it looks beyond aggregated measures of contagion into the structure of bank flows, disaggregating by banking centres. There are two main findings: 1) spillovers caused by banks' exposures to a crisis country help predict flows in third countries after the Mexican and the Asian crises, but not after the Russian crises and 2) there is evidence of a centralized outflow from emerging markets. |
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