Cross-Border Banking and Global Liquidity

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ID: 307487
2014
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Abstract
We investigate global factors associated with bank capital flows. We formulate a model of the international banking system where global banks interact with local banks. The solution highlights the bank leverage cycle as the determinant of the transmission of financial conditions across borders through banking sector capital flows. A distinctive prediction of the model is that local currency appreciation is associated with higher leverage of the banking sector, thereby providing a conceptual bridge between exchange rates and financial stability. In a panel study of 46 countries, we find support for the key predictions of our model.
Reference Key
openalex_W3124227914 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Valentina Bruno, Hyun Song Shin
Journal The Review of Economic Studies
Year 2014
DOI
10.1093/restud/rdu042
URL
https://doi.org/10.1093/restud/rdu042
Keywords Keywords not found

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