LEADER 04076nam 2200637 450 001 9910463628003321 005 20210227005241.0 010 $a1-4623-0736-1 010 $a1-4527-0266-7 010 $a9786612841316 010 $a1-4518-7038-8 010 $a1-282-84131-9 035 $a(CKB)3170000000055081 035 $a(EBL)1607964 035 $a(SSID)ssj0000943977 035 $a(PQKBManifestationID)11612507 035 $a(PQKBTitleCode)TC0000943977 035 $a(PQKBWorkID)10983800 035 $a(PQKB)10975734 035 $a(OCoLC)763008862 035 $a(MiAaPQ)EBC1607964 035 $a(EXLCZ)993170000000055081 100 $a20140227h20082008 uy 0 101 0 $aeng 181 $ctxt 182 $cc 183 $acr 200 10$aBank recycling of petro dollars to emerging market economies during the current oil price boom /$fJohannes Wiegand 210 1$a[Washington, District of Columbia] :$cInternational Monetary Fund,$d2008. 210 4$dİ2008 215 $a1 online resource (28 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 $a1-4519-1491-1 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; Figures; 1. Bank Flows to Emerging Markets, 1970-1985; 2. Emerging Markets: Current Account, 1970-2007; Tables; 1. Emerging Markets: Current Account Position by Region; 2. Oil Exporters: External Position and Deposit Flows into BIS-Reporting Banks, 2001-06; II. Data and Some Stylized Facts; III. Identification and Estimation Strategy; 3. Correlation of Deposit Outflows with the IMF Average Oil Price.; 3. Identifying and Estimating Petro-Dollar Bank Flows: Basic Scheme; 4. Identifying and Estimating Petro-Dollar Bank Flows: Extended Scheme; IV. Results 327 $aA. Descriptive Statistics 4. Quarterly Flows into and out of BIS Reporting Bank, Q2 2001-Q4 2006...; B. Basic Estimation Results; 5. Cross-Border Loans, 1990-2007; 5. Basic Regression Results; C. Detailed Results; 6. Extended Regression Results; D. Region Specific Estimates; 6. Bank Loans by Recipient Region; E. Robustness Checks and Extensions; Parameter Stability; 7. Region Specific Estimates; 7. Regression Residuals; Dynamic Specifications; 8. Re-Recursive Estimation; Feedback and Reverse Causality; 8. Dynamic Specifications; Assets and Liabilities vs. Loans and Deposits; 9. Feedback 327 $a10. Assets and Liabilities V. Summary: Key Results and Implications for Emerging Market Vulnerabilities; 9. Non-Loan Asset Flows, 1996-2007; References; Appendices; I. Country and Territory Groupings; II. Detailed Descriptive Statistics 330 $aHigh oil prices have once again led to large external surpluses of oil exporting countries, similar to the 1970's and 1980's. This paper analyzes the extent to which (i) oil exporters use bank deposits to invest these surpluses, and (ii) banks are lending on these funds to emerging market economies. Bank recycling of petro dollars to emerging market economies is found to be almost as important as in the 1970's and 1980's, even though during the current boom, petro dollar bank flows tend to originate in countries like Russia, Libya, or Nigeria rather than in the Middle East. As one consequence.... 410 0$aIMF Working Papers 606 $aCapital movements$xEconometric models 606 $aBanks and banking$xEconometric models 606 $aPetroleum industry and trade$xEconomic aspects$xEconometric models 608 $aElectronic books. 615 0$aCapital movements$xEconometric models. 615 0$aBanks and banking$xEconometric models. 615 0$aPetroleum industry and trade$xEconomic aspects$xEconometric models. 676 $a332.820971 700 $aWiegand$b Johannes$0820400 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910463628003321 996 $aBank recycling of petro dollars to emerging market economies during the current oil price boom$92038125 997 $aUNINA