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The Domestic Credit Supply Response to International Bank Deleveraging : : Is Asia Different? / / Shekhar Aiyar, Sonali Jain-Chandra



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Autore: Aiyar Shekhar Visualizza persona
Titolo: The Domestic Credit Supply Response to International Bank Deleveraging : : Is Asia Different? / / Shekhar Aiyar, Sonali Jain-Chandra Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2012
Edizione: 1st ed.
Descrizione fisica: 1 online resource (16 p.)
Disciplina: 332.152
Soggetto topico: Banks and banking, International - Asia
Banks and banking - Asia
Banks and Banking
Money and Monetary Policy
Financial Crises
Monetary Systems
Standards
Regimes
Government and the Monetary System
Payment Systems
Banks
Depository Institutions
Micro Finance Institutions
Mortgages
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
Monetary economics
Banking
Foreign currency exposure
Foreign banks
Domestic credit
Bank credit
Money
Financial institutions
Credit
Foreign exchange market
Banks and banking
Banks and banking, Foreign
Soggetto geografico: United States
Altri autori: Jain-ChandraSonali  
Note generali: Description based upon print version of record.
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: Cover; Contents; I. Introduction; Figures; 1. Consolidated Foreign Claims on Asian Economies; II. The Role of European Banks in Asia; 2. Consolidated Foreign Claims of European Banks on Asia; 3. BIS Reporting Banks' Foreign Claims on Selected Asian Economies by Sector; III. Econometric Methodology; 4. Consolidated International Claims of European Banks; IV. Results; Tables; 1. Impact of Change in Foreign Claims on Change in Domestic Credit Supply; V. Why did Asia React Differently?
2. Impact of Change in Foreign Claims on Change in Domestic Credit Supply (Using exchange rate adjusted foreign claims data)5. Difference in Policy Responses: Asia Versus Non-Asia; 3. Summary of Policy Actions taken in Asia during the Global Financial Crisis; 6. Debt-to-Equity Ratio in Financial Firms at End-2007; References
Sommario/riassunto: 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. We 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.
Titolo autorizzato: The Domestic Credit Supply Response to International Bank Deleveraging  Visualizza cluster
ISBN: 1-4755-6499-6
1-4755-6234-9
1-283-86687-0
1-4755-8294-3
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910816178003321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2012/258