Have currency-based capital flow management measures curbed international banking flows?:
This paper analyses the impact of a specific type of banking regulation on operations in foreign currency, defined as currency-based capital flow management measures (CB-CFMs), on cross-border banking flows in a sample of 18 countries over the period 2005 to 2013. The results show that the introduct...
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| Weitere Verfasser: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2017
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| Schriftenreihe: | OECD Working Papers on International Investment
no.2017/04 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper analyses the impact of a specific type of banking regulation on operations in foreign currency, defined as currency-based capital flow management measures (CB-CFMs), on cross-border banking flows in a sample of 18 countries over the period 2005 to 2013. The results show that the introduction and tightening of these measures in the post-crisis period contributed to a reduction of the external debt of banks, controlling for capital flow management measures, domestic macro-prudential regulation, and a large set of push and pull factors. The examination of external debt by maturity and instruments suggests that these measures are more effective in curbing short-term debt and interbank borrowing, which are also the components that contracted more sharply in the aftermath of the 2008 crisis. Further analysis could look at the benefits these measures bring in terms of financial stability, and evaluate the costs of capital account openness against the risks that CB-CFMs aim to address. |
| Beschreibung: | 1 Online-Ressource (58 p.) |
| DOI: | 10.1787/c0cc3f28-en |
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| spelling | de Crescenzio, Annamaria VerfasserIn aut Have currency-based capital flow management measures curbed international banking flows? Annamaria, de Crescenzio, Marta, Golin and Francesco, Molteni Paris OECD Publishing 2017 1 Online-Ressource (58 p.) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Working Papers on International Investment no.2017/04 This paper analyses the impact of a specific type of banking regulation on operations in foreign currency, defined as currency-based capital flow management measures (CB-CFMs), on cross-border banking flows in a sample of 18 countries over the period 2005 to 2013. The results show that the introduction and tightening of these measures in the post-crisis period contributed to a reduction of the external debt of banks, controlling for capital flow management measures, domestic macro-prudential regulation, and a large set of push and pull factors. The examination of external debt by maturity and instruments suggests that these measures are more effective in curbing short-term debt and interbank borrowing, which are also the components that contracted more sharply in the aftermath of the 2008 crisis. Further analysis could look at the benefits these measures bring in terms of financial stability, and evaluate the costs of capital account openness against the risks that CB-CFMs aim to address. Finance and Investment Golin, Marta MitwirkendeR ctb Molteni, Francesco MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/c0cc3f28-en Volltext |
| spellingShingle | de Crescenzio, Annamaria Have currency-based capital flow management measures curbed international banking flows? Finance and Investment |
| title | Have currency-based capital flow management measures curbed international banking flows? |
| title_auth | Have currency-based capital flow management measures curbed international banking flows? |
| title_exact_search | Have currency-based capital flow management measures curbed international banking flows? |
| title_full | Have currency-based capital flow management measures curbed international banking flows? Annamaria, de Crescenzio, Marta, Golin and Francesco, Molteni |
| title_fullStr | Have currency-based capital flow management measures curbed international banking flows? Annamaria, de Crescenzio, Marta, Golin and Francesco, Molteni |
| title_full_unstemmed | Have currency-based capital flow management measures curbed international banking flows? Annamaria, de Crescenzio, Marta, Golin and Francesco, Molteni |
| title_short | Have currency-based capital flow management measures curbed international banking flows? |
| title_sort | have currency based capital flow management measures curbed international banking flows |
| topic | Finance and Investment |
| topic_facet | Finance and Investment |
| url | https://doi.org/10.1787/c0cc3f28-en |
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