International financial flows in the new normal: Key patterns (and why we should care)
This paper documents recent trends in international financial flows, based on a newly assembled dataset covering 40 advanced and emerging countries. It highlights four stylized facts: first, the "Great Retrenchment" that took place during the crisis has proved very persistent; second, this fall can predominantly be related to advanced economies, especially in Western Europe; third, net flows have fallen substantially relative to the years preceding the crisis; and fourth, profound changes have occurred in the composition of international financial flows in ways which should help to strengthen resilience and deliver genuine cross-border risk-sharing. This paper then turns to possible explanations for and likely implications of these changes, with regard to international financial stability issues.
Year of publication: |
2016
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Authors: | Bussière, Matthieu ; Schmidt, Julia ; Valla, Natacha |
Publisher: |
Luxembourg : European Investment Bank (EIB) |
Saved in:
freely available
Series: | EIB Working Papers ; 2016/02 |
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Type of publication: | Book / Working Paper |
Type of publication (narrower categories): | Working Paper |
Language: | English |
Other identifiers: | 863303153 [GVK] hdl:10419/144175 [Handle] RePEc:zbw:eibwps:201602 [RePEc] |
Source: |
Persistent link: https://www.econbiz.de/10011504944
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