Banking Flows and Financial Crisis : Financial Interconnectedness and Basel III Effects

Ghosh, Swati R. ; Sugawara, Naotaka ; Zalduendo, Juan

关键词: ADVANCED COUNTRIES;    ADVANCED ECONOMIES;    ADVANCED ECONOMY;    AGENCY PROBLEMS;    AMOUNT OF CAPITAL;   

DOI  :  10.1596/1813-9450-5769
RP-ID  :  WPS5769

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This paper examines the factors thatdetermine banking flows from advanced economies to emergingmarkets. In addition to the usual determinants of capitalflows in terms of global push and local pull factors, itexamines the role of bilateral factors, such as growthdifferentials and economic size, as well as contagionfactors and measures of the depth in financialinterconnectedness between lenders and borrowers. Theanalysis finds profound differences across regions. Inparticular, in spite of the severe impact of the globalfinancial crisis, banking flows in emerging Europe stand outas a more stable region than is the case in other developingregions. Assuming that the determinants of banking flowsremain unchanged in the presence of structural changes, theauthors use these results to explore the short-termimplications of Basel III capital regulations on bankingflows to emerging markets.