The Impact of Foreign Bank Deleveraging on Korea:
Korea was hit hard by the 2008 global financial crisis, with the foreign bank deleveraging channel coming prominently into play. The global financial crisis demonstrated that a sharp deleveraging can be transmitted to emerging markets through the bank lending channel to a slowdown in credit growth....
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2013
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 13/101 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
| Zusammenfassung: | Korea was hit hard by the 2008 global financial crisis, with the foreign bank deleveraging channel coming prominently into play. The global financial crisis demonstrated that a sharp deleveraging can be transmitted to emerging markets through the bank lending channel to a slowdown in credit growth. The analysis finds that a sharp decline in external funding led to relatively modest decline in domestic credit by Korean banks, due to concerted policy efforts by the government in 2008. Impulse responses from a Dynamic Stochastic General Equilibrium (DSGE) model calibrated to Korea shows that it appears better prepared to handle such shocks relative to 2008. Indeed, Korea is much more resilient to such shocks due to the efforts by the authorities, which has led to the strengthening of external buffers, such as higher foreign exchange reserves and bilateral and multilateral currency swap arrangements |
| Beschreibung: | 1 Online-Ressource (21 p) |
| ISBN: | 1484363736 9781484363737 |
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| index_date | 2024-07-03T20:13:15Z |
| indexdate | 2024-07-10T09:35:22Z |
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| spelling | Jain-Chandra, Sonali Verfasser aut The Impact of Foreign Bank Deleveraging on Korea Jain-Chandra, Sonali Washington, D.C International Monetary Fund 2013 1 Online-Ressource (21 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 13/101 Korea was hit hard by the 2008 global financial crisis, with the foreign bank deleveraging channel coming prominently into play. The global financial crisis demonstrated that a sharp deleveraging can be transmitted to emerging markets through the bank lending channel to a slowdown in credit growth. The analysis finds that a sharp decline in external funding led to relatively modest decline in domestic credit by Korean banks, due to concerted policy efforts by the government in 2008. Impulse responses from a Dynamic Stochastic General Equilibrium (DSGE) model calibrated to Korea shows that it appears better prepared to handle such shocks relative to 2008. Indeed, Korea is much more resilient to such shocks due to the efforts by the authorities, which has led to the strengthening of external buffers, such as higher foreign exchange reserves and bilateral and multilateral currency swap arrangements Online-Ausg Kim, Min Jung Sonstige oth Park, Sung Ho Sonstige oth Shin, Jerome Sonstige oth http://elibrary.imf.org/view/IMF001/20459-9781484363737/20459-9781484363737/20459-9781484363737.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Jain-Chandra, Sonali The Impact of Foreign Bank Deleveraging on Korea |
| title | The Impact of Foreign Bank Deleveraging on Korea |
| title_auth | The Impact of Foreign Bank Deleveraging on Korea |
| title_exact_search | The Impact of Foreign Bank Deleveraging on Korea |
| title_exact_search_txtP | The Impact of Foreign Bank Deleveraging on Korea |
| title_full | The Impact of Foreign Bank Deleveraging on Korea Jain-Chandra, Sonali |
| title_fullStr | The Impact of Foreign Bank Deleveraging on Korea Jain-Chandra, Sonali |
| title_full_unstemmed | The Impact of Foreign Bank Deleveraging on Korea Jain-Chandra, Sonali |
| title_short | The Impact of Foreign Bank Deleveraging on Korea |
| title_sort | the impact of foreign bank deleveraging on korea |
| url | http://elibrary.imf.org/view/IMF001/20459-9781484363737/20459-9781484363737/20459-9781484363737.xml |
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