Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies.:
This paper examines whether the coordinated use of macroprudential policies can help lessen the incidence of banking crises. It is well-known that rapid domestic credit growth and house price growth positively influence the chances of a banking crisis. As well, a crisis in other countries with high...
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| Main Authors: | , , |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
[Washington, D.C.] :
International Monetary Fund,
[2018]
|
| Series: | IMF working paper ;
WP/18/9. |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | This paper examines whether the coordinated use of macroprudential policies can help lessen the incidence of banking crises. It is well-known that rapid domestic credit growth and house price growth positively influence the chances of a banking crisis. As well, a crisis in other countries with high trade and financial linkages raises the crisis probability. However, whether such 'contagion effects' can operate to reduce crisis probabilities when highly linked countries execute macroprudential policies together has not been fully explored. A dataset documenting countries' use of macroprudential tools suggests that a 'coordinated' implementation of macroprudential policies across highly-linked countries can help to stem the risks of widespread banking crises, although this positive effect may take some time to materialize. |
| Physical Description: | 1 online resource (45 pages) |
| ISBN: | 1484338766 1484338472 9781484338476 9781484338766 |
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MARC
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| 245 | 1 | 0 | |a Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies. |
| 264 | 1 | |a [Washington, D.C.] : |b International Monetary Fund, |c [2018] | |
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| 505 | 0 | |a Cover; Contents; I. Introduction; II. Literature Review; III. The Data; IV. Influence of Crises Experienced in Trade Partners and Loan Recipients; V. Influence of Macroprudential Policies in Trade Partners and Loan Recipients; A. Preliminaries; B. Influence of Macroprudential Policies in Partners on Domestic Credit Growth and House Price Growth; C. Influence of Macroprudential Policies in Partners on Domestic Crisis Probabilities; D. Alternative Specifications; VI. Conclusion; References; Appendix I. Data; Appendix II. Robustness Checks; List of Tables. | |
| 505 | 8 | |a Table 1. Probability of a Banking Crisis according to Partner CrisesTable 2. Numbers of Trade Partners and Loan Recipients Experiencing a Banking Crisis; Table 3. Panel Logit Estimation Impact on Crises Experienced in Trade Partners and Loan Recipients on Domestic Crisis Probabilities; Table 4. Impact of Domestic and Top-10 Trade Partners' Macroprudential Tightening on Financial Sector Indicators; Table 5. Impact of Domestic and Top-10 Loan Recipients' Macroprudential Tightening on Financial Sector Indicators. | |
| 505 | 8 | |a Table 6. Impact of Domestic and Top-10 Partners' Macroprudential Tightening on Crisis ProbabilitiesTable 7. Impact of Noncore Liabilities with Domestic and Top-10 Partners' Macroprudential Tightening on Crisis Probabilities; List of Figures; Figure 1. Illustrated Goal of This Paper; Figure 2. Illustration of the Estimated Crisis Probability; Figure 3. Financial Sector Indicators around Top-10 Partners' Macroprudential Tightening; Figure 4. Domestic Macroprudential Tightening with and without the Tightening of One or More of Top-10 Trade Partners; Appendix I. Data; Table A1. Data and Sources. | |
| 505 | 8 | |a Table A2. Country List in BIS DataTable A3. List of Crisis Years/Countries; Table A4. Macroprudential Tightening Indicator; Appendix II. Robustness Checks; Table B1. Impact of Crises in Partner Countries on Domestic Crisis Probabilities with Year-2008 Dummy; Table B2. Impact of Domestic and Top Trade Partners' Macroprudential Tightening on Crisis Probabilities with Year-2008 Dummy; Figure B1. Top-10 Partners' Macroprudential Tightening: LTV and DTI Only; Figure B2. Macroprudential Tightening with and without Top-10 Partners' Macroprudential Tightening: LTV and DTI Only. | |
| 520 | 3 | |a This paper examines whether the coordinated use of macroprudential policies can help lessen the incidence of banking crises. It is well-known that rapid domestic credit growth and house price growth positively influence the chances of a banking crisis. As well, a crisis in other countries with high trade and financial linkages raises the crisis probability. However, whether such 'contagion effects' can operate to reduce crisis probabilities when highly linked countries execute macroprudential policies together has not been fully explored. A dataset documenting countries' use of macroprudential tools suggests that a 'coordinated' implementation of macroprudential policies across highly-linked countries can help to stem the risks of widespread banking crises, although this positive effect may take some time to materialize. | |
| 650 | 0 | |a International economic integration. |0 http://id.loc.gov/authorities/subjects/sh85067394 | |
| 650 | 0 | |a Banks and banking. |0 http://id.loc.gov/authorities/subjects/sh85011609 | |
| 650 | 0 | |a Economic development. |0 http://id.loc.gov/authorities/subjects/sh85040804 | |
| 650 | 6 | |a Intégration économique internationale. | |
| 650 | 6 | |a Développement économique. | |
| 650 | 7 | |a economic development. |2 aat | |
| 650 | 7 | |a Banks and banking |2 fast | |
| 650 | 7 | |a Economic development |2 fast | |
| 650 | 7 | |a International economic integration |2 fast | |
| 650 | 7 | |a Banks. |2 ram | |
| 650 | 7 | |a International Policy Coordination And Transmission. |2 ram | |
| 650 | 7 | |a Financial Aspects Of Economic Integration. |2 ram | |
| 650 | 7 | |a Banking Crisis. |2 ram | |
| 650 | 7 | |a All Countries. |2 ram | |
| 700 | 1 | |a Kodres, Laura E., |e author. |0 http://id.loc.gov/authorities/names/no98070001 | |
| 700 | 1 | |a Lu, Jing, |e author. | |
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| 776 | 0 | 8 | |i Print version: |a Choi, Seung M. |t Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies. |d Washington, D.C. : International Monetary Fund, ©2018 |z 9781484338476 |
| 830 | 0 | |a IMF working paper ; |v WP/18/9. |0 http://id.loc.gov/authorities/names/no89010263 | |
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| author | Choi, Seung M. Kodres, Laura E. Lu, Jing |
| author_GND | http://id.loc.gov/authorities/names/no98070001 |
| author_facet | Choi, Seung M. Kodres, Laura E. Lu, Jing |
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| contents | Cover; Contents; I. Introduction; II. Literature Review; III. The Data; IV. Influence of Crises Experienced in Trade Partners and Loan Recipients; V. Influence of Macroprudential Policies in Trade Partners and Loan Recipients; A. Preliminaries; B. Influence of Macroprudential Policies in Partners on Domestic Credit Growth and House Price Growth; C. Influence of Macroprudential Policies in Partners on Domestic Crisis Probabilities; D. Alternative Specifications; VI. Conclusion; References; Appendix I. Data; Appendix II. Robustness Checks; List of Tables. Table 1. Probability of a Banking Crisis according to Partner CrisesTable 2. Numbers of Trade Partners and Loan Recipients Experiencing a Banking Crisis; Table 3. Panel Logit Estimation Impact on Crises Experienced in Trade Partners and Loan Recipients on Domestic Crisis Probabilities; Table 4. Impact of Domestic and Top-10 Trade Partners' Macroprudential Tightening on Financial Sector Indicators; Table 5. Impact of Domestic and Top-10 Loan Recipients' Macroprudential Tightening on Financial Sector Indicators. Table 6. Impact of Domestic and Top-10 Partners' Macroprudential Tightening on Crisis ProbabilitiesTable 7. Impact of Noncore Liabilities with Domestic and Top-10 Partners' Macroprudential Tightening on Crisis Probabilities; List of Figures; Figure 1. Illustrated Goal of This Paper; Figure 2. Illustration of the Estimated Crisis Probability; Figure 3. Financial Sector Indicators around Top-10 Partners' Macroprudential Tightening; Figure 4. Domestic Macroprudential Tightening with and without the Tightening of One or More of Top-10 Trade Partners; Appendix I. Data; Table A1. Data and Sources. Table A2. Country List in BIS DataTable A3. List of Crisis Years/Countries; Table A4. Macroprudential Tightening Indicator; Appendix II. Robustness Checks; Table B1. Impact of Crises in Partner Countries on Domestic Crisis Probabilities with Year-2008 Dummy; Table B2. Impact of Domestic and Top Trade Partners' Macroprudential Tightening on Crisis Probabilities with Year-2008 Dummy; Figure B1. Top-10 Partners' Macroprudential Tightening: LTV and DTI Only; Figure B2. Macroprudential Tightening with and without Top-10 Partners' Macroprudential Tightening: LTV and DTI Only. |
| ctrlnum | (OCoLC)1024250032 |
| dewey-full | 337 |
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| dewey-ones | 337 - International economics |
| dewey-raw | 337 |
| dewey-search | 337 |
| dewey-sort | 3337 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| id | ZDB-4-EBU-on1024250032 |
| illustrated | Not Illustrated |
| indexdate | 2025-03-18T14:28:03Z |
| institution | BVB |
| isbn | 1484338766 1484338472 9781484338476 9781484338766 |
| language | English |
| oclc_num | 1024250032 |
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| series | IMF working paper ; |
| series2 | IMF Working Paper ; |
| spelling | Choi, Seung M., author. Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies. [Washington, D.C.] : International Monetary Fund, [2018] ©2018 1 online resource (45 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF Working Paper ; WP/18/9 Print version record. Cover; Contents; I. Introduction; II. Literature Review; III. The Data; IV. Influence of Crises Experienced in Trade Partners and Loan Recipients; V. Influence of Macroprudential Policies in Trade Partners and Loan Recipients; A. Preliminaries; B. Influence of Macroprudential Policies in Partners on Domestic Credit Growth and House Price Growth; C. Influence of Macroprudential Policies in Partners on Domestic Crisis Probabilities; D. Alternative Specifications; VI. Conclusion; References; Appendix I. Data; Appendix II. Robustness Checks; List of Tables. Table 1. Probability of a Banking Crisis according to Partner CrisesTable 2. Numbers of Trade Partners and Loan Recipients Experiencing a Banking Crisis; Table 3. Panel Logit Estimation Impact on Crises Experienced in Trade Partners and Loan Recipients on Domestic Crisis Probabilities; Table 4. Impact of Domestic and Top-10 Trade Partners' Macroprudential Tightening on Financial Sector Indicators; Table 5. Impact of Domestic and Top-10 Loan Recipients' Macroprudential Tightening on Financial Sector Indicators. Table 6. Impact of Domestic and Top-10 Partners' Macroprudential Tightening on Crisis ProbabilitiesTable 7. Impact of Noncore Liabilities with Domestic and Top-10 Partners' Macroprudential Tightening on Crisis Probabilities; List of Figures; Figure 1. Illustrated Goal of This Paper; Figure 2. Illustration of the Estimated Crisis Probability; Figure 3. Financial Sector Indicators around Top-10 Partners' Macroprudential Tightening; Figure 4. Domestic Macroprudential Tightening with and without the Tightening of One or More of Top-10 Trade Partners; Appendix I. Data; Table A1. Data and Sources. Table A2. Country List in BIS DataTable A3. List of Crisis Years/Countries; Table A4. Macroprudential Tightening Indicator; Appendix II. Robustness Checks; Table B1. Impact of Crises in Partner Countries on Domestic Crisis Probabilities with Year-2008 Dummy; Table B2. Impact of Domestic and Top Trade Partners' Macroprudential Tightening on Crisis Probabilities with Year-2008 Dummy; Figure B1. Top-10 Partners' Macroprudential Tightening: LTV and DTI Only; Figure B2. Macroprudential Tightening with and without Top-10 Partners' Macroprudential Tightening: LTV and DTI Only. This paper examines whether the coordinated use of macroprudential policies can help lessen the incidence of banking crises. It is well-known that rapid domestic credit growth and house price growth positively influence the chances of a banking crisis. As well, a crisis in other countries with high trade and financial linkages raises the crisis probability. However, whether such 'contagion effects' can operate to reduce crisis probabilities when highly linked countries execute macroprudential policies together has not been fully explored. A dataset documenting countries' use of macroprudential tools suggests that a 'coordinated' implementation of macroprudential policies across highly-linked countries can help to stem the risks of widespread banking crises, although this positive effect may take some time to materialize. International economic integration. http://id.loc.gov/authorities/subjects/sh85067394 Banks and banking. http://id.loc.gov/authorities/subjects/sh85011609 Economic development. http://id.loc.gov/authorities/subjects/sh85040804 Intégration économique internationale. Développement économique. economic development. aat Banks and banking fast Economic development fast International economic integration fast Banks. ram International Policy Coordination And Transmission. ram Financial Aspects Of Economic Integration. ram Banking Crisis. ram All Countries. ram Kodres, Laura E., author. http://id.loc.gov/authorities/names/no98070001 Lu, Jing, author. has work: Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies (Text) https://id.oclc.org/worldcat/entity/E39PCFVCkkvwkpfRfmG66QqQhd https://id.oclc.org/worldcat/ontology/hasWork Print version: Choi, Seung M. Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies. Washington, D.C. : International Monetary Fund, ©2018 9781484338476 IMF working paper ; WP/18/9. http://id.loc.gov/authorities/names/no89010263 |
| spellingShingle | Choi, Seung M. Kodres, Laura E. Lu, Jing Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies. IMF working paper ; Cover; Contents; I. Introduction; II. Literature Review; III. The Data; IV. Influence of Crises Experienced in Trade Partners and Loan Recipients; V. Influence of Macroprudential Policies in Trade Partners and Loan Recipients; A. Preliminaries; B. Influence of Macroprudential Policies in Partners on Domestic Credit Growth and House Price Growth; C. Influence of Macroprudential Policies in Partners on Domestic Crisis Probabilities; D. Alternative Specifications; VI. Conclusion; References; Appendix I. Data; Appendix II. Robustness Checks; List of Tables. Table 1. Probability of a Banking Crisis according to Partner CrisesTable 2. Numbers of Trade Partners and Loan Recipients Experiencing a Banking Crisis; Table 3. Panel Logit Estimation Impact on Crises Experienced in Trade Partners and Loan Recipients on Domestic Crisis Probabilities; Table 4. Impact of Domestic and Top-10 Trade Partners' Macroprudential Tightening on Financial Sector Indicators; Table 5. Impact of Domestic and Top-10 Loan Recipients' Macroprudential Tightening on Financial Sector Indicators. Table 6. Impact of Domestic and Top-10 Partners' Macroprudential Tightening on Crisis ProbabilitiesTable 7. Impact of Noncore Liabilities with Domestic and Top-10 Partners' Macroprudential Tightening on Crisis Probabilities; List of Figures; Figure 1. Illustrated Goal of This Paper; Figure 2. Illustration of the Estimated Crisis Probability; Figure 3. Financial Sector Indicators around Top-10 Partners' Macroprudential Tightening; Figure 4. Domestic Macroprudential Tightening with and without the Tightening of One or More of Top-10 Trade Partners; Appendix I. Data; Table A1. Data and Sources. Table A2. Country List in BIS DataTable A3. List of Crisis Years/Countries; Table A4. Macroprudential Tightening Indicator; Appendix II. Robustness Checks; Table B1. Impact of Crises in Partner Countries on Domestic Crisis Probabilities with Year-2008 Dummy; Table B2. Impact of Domestic and Top Trade Partners' Macroprudential Tightening on Crisis Probabilities with Year-2008 Dummy; Figure B1. Top-10 Partners' Macroprudential Tightening: LTV and DTI Only; Figure B2. Macroprudential Tightening with and without Top-10 Partners' Macroprudential Tightening: LTV and DTI Only. International economic integration. http://id.loc.gov/authorities/subjects/sh85067394 Banks and banking. http://id.loc.gov/authorities/subjects/sh85011609 Economic development. http://id.loc.gov/authorities/subjects/sh85040804 Intégration économique internationale. Développement économique. economic development. aat Banks and banking fast Economic development fast International economic integration fast Banks. ram International Policy Coordination And Transmission. ram Financial Aspects Of Economic Integration. ram Banking Crisis. ram All Countries. ram |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85067394 http://id.loc.gov/authorities/subjects/sh85011609 http://id.loc.gov/authorities/subjects/sh85040804 |
| title | Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies. |
| title_auth | Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies. |
| title_exact_search | Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies. |
| title_full | Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies. |
| title_fullStr | Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies. |
| title_full_unstemmed | Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies. |
| title_short | Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies. |
| title_sort | friend or foe cross border linkages contagious banking crises and coordinated macroprudential policies |
| topic | International economic integration. http://id.loc.gov/authorities/subjects/sh85067394 Banks and banking. http://id.loc.gov/authorities/subjects/sh85011609 Economic development. http://id.loc.gov/authorities/subjects/sh85040804 Intégration économique internationale. Développement économique. economic development. aat Banks and banking fast Economic development fast International economic integration fast Banks. ram International Policy Coordination And Transmission. ram Financial Aspects Of Economic Integration. ram Banking Crisis. ram All Countries. ram |
| topic_facet | International economic integration. Banks and banking. Economic development. Intégration économique internationale. Développement économique. economic development. Banks and banking Economic development International economic integration Banks. International Policy Coordination And Transmission. Financial Aspects Of Economic Integration. Banking Crisis. All Countries. |
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