The domestic credit supply response to international bank deleveraging: Is Asia different?
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C.
International Monetary Fund, Asia and Pacific Dept.
2012
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| Series: | IMF working paper
WP/12/258 |
| Subjects: | |
| Online Access: | Volltext |
| Item Description: | "October 2012" "During the global financial crisis, European banks contracted foreign claims on recipient economies sharply. This paper examines the impact of that deleveraging on credit supply in recipient economies, with a particular focus on Asia. Identification is achieved by exploiting heterogeneity in ex-ante patterns of funding reliance on different European banking systems, and in variation in the ratio of local claims in local currency to total foreign claims in recipient economies. These sources of variation are used to create instruments for the deleveraging shock. The authors find that the contraction in European bank foreign claims was associated with a substantial reduction in domestic credit supply in a broad sample of countries. However, the credit supply response in Asia was only about half the size of the response in non-Asian countries, possibly due to a more robust policy response and healthier local bank balance sheets at the outset of the crisis."- -Abstract |
| Physical Description: | 1 Online-Ressource (15 p.) |
| ISBN: | 9781475562347 1475562349 |
Staff View
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| id | DE-604.BV042959158 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:13:45Z |
| institution | BVB |
| isbn | 9781475562347 1475562349 |
| language | English |
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| spelling | Aiyar, Shekhar Verfasser aut The domestic credit supply response to international bank deleveraging Is Asia different? Shekhar Aiyar and Sonali Jain-Chandra Washington, D.C. International Monetary Fund, Asia and Pacific Dept. 2012 1 Online-Ressource (15 p.) txt rdacontent c rdamedia cr rdacarrier IMF working paper WP/12/258 "October 2012" "During the global financial crisis, European banks contracted foreign claims on recipient economies sharply. This paper examines the impact of that deleveraging on credit supply in recipient economies, with a particular focus on Asia. Identification is achieved by exploiting heterogeneity in ex-ante patterns of funding reliance on different European banking systems, and in variation in the ratio of local claims in local currency to total foreign claims in recipient economies. These sources of variation are used to create instruments for the deleveraging shock. The authors find that the contraction in European bank foreign claims was associated with a substantial reduction in domestic credit supply in a broad sample of countries. However, the credit supply response in Asia was only about half the size of the response in non-Asian countries, possibly due to a more robust policy response and healthier local bank balance sheets at the outset of the crisis."- -Abstract Global Financial Crisis (2008-2009) fast 2008 - 2009 fast BUSINESS & ECONOMICS / Banks & Banking bisacsh Bank liquidity fast Bank loans fast Banks and banking, European fast Wirtschaft Banks and banking, European Asia Bank loans Asia Bank liquidity Asia Global Financial Crisis, 2008-2009 Asien Jain-Chandra, Sonali Sonstige oth International Monetary Fund Asia and Pacific Department Sonstige oth http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=516445 Aggregator Volltext |
| spellingShingle | Aiyar, Shekhar The domestic credit supply response to international bank deleveraging Is Asia different? Global Financial Crisis (2008-2009) fast BUSINESS & ECONOMICS / Banks & Banking bisacsh Bank liquidity fast Bank loans fast Banks and banking, European fast Wirtschaft Banks and banking, European Asia Bank loans Asia Bank liquidity Asia Global Financial Crisis, 2008-2009 |
| title | The domestic credit supply response to international bank deleveraging Is Asia different? |
| title_auth | The domestic credit supply response to international bank deleveraging Is Asia different? |
| title_exact_search | The domestic credit supply response to international bank deleveraging Is Asia different? |
| title_full | The domestic credit supply response to international bank deleveraging Is Asia different? Shekhar Aiyar and Sonali Jain-Chandra |
| title_fullStr | The domestic credit supply response to international bank deleveraging Is Asia different? Shekhar Aiyar and Sonali Jain-Chandra |
| title_full_unstemmed | The domestic credit supply response to international bank deleveraging Is Asia different? Shekhar Aiyar and Sonali Jain-Chandra |
| title_short | The domestic credit supply response to international bank deleveraging |
| title_sort | the domestic credit supply response to international bank deleveraging is asia different |
| title_sub | Is Asia different? |
| topic | Global Financial Crisis (2008-2009) fast BUSINESS & ECONOMICS / Banks & Banking bisacsh Bank liquidity fast Bank loans fast Banks and banking, European fast Wirtschaft Banks and banking, European Asia Bank loans Asia Bank liquidity Asia Global Financial Crisis, 2008-2009 |
| topic_facet | Global Financial Crisis (2008-2009) BUSINESS & ECONOMICS / Banks & Banking Bank liquidity Bank loans Banks and banking, European Wirtschaft Banks and banking, European Asia Bank loans Asia Bank liquidity Asia Global Financial Crisis, 2008-2009 Asien |
| url | http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=516445 |
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