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We investigate global factors associated with cross-border capital flows. We formulate a model of gross capital flows through the international banking system and derive a closed form solution that highlights the leverage cycle of global banks as being a prime determinant of the transmission of...
Persistent link: https://www.econbiz.de/10013082151
Persistent link: https://www.econbiz.de/10010209835
We investigate the role of global factors in driving cross-border capital flows. We formulate a model of gross capital flows through the banking sector and derive a closed form solution that highlights the leverage cycle of global banks and its interaction with recipient country characteristics....
Persistent link: https://www.econbiz.de/10013109273
This paper exploits a novel bank-level monthly dataset to assess the effects of global liquidity on the global flows of … supports a range of determinants of global liquidity - including global risk, global bank equity and unconventional monetary … indicates heterogeneity in the influence of global liquidity on global flows across euro area bank type, defined by their …
Persistent link: https://www.econbiz.de/10011446311
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...
Persistent link: https://www.econbiz.de/10013047533
Persistent link: https://www.econbiz.de/10010433957
International financial linkages, particularly through global bank flows, generate important questions about the consequences for economic and financial stability, including the ability of countries to conduct autonomous monetary policy. I address the monetary autonomy issue in the context of...
Persistent link: https://www.econbiz.de/10010201279
Using data collected from pan-African banks' (PABs), balance sheets and other sources (Orbis, Fitch), this study identifies some key patterns of cross-border investment in bank subsidiaries by key banking groups in sub-Saharan Africa (SSA) and discusses some of the determinants of this...
Persistent link: https://www.econbiz.de/10012102113
This paper provides a definition of global liquidity consistent with its meaning as the “ease of financing” in … also the cyclical impact of global liquidity, with sensitivities of flows to banks decreasing with stronger macroeconomic …
Persistent link: https://www.econbiz.de/10013053045
This paper studies the determinants of global liquidity using data on cross-border bank flows, with a longer time … series and broader country sample than previous studies. We define global liquidity as non-price determinants of cross … liquidity is driven primarily by uncertainty (VIX), US monetary policy (term premia), and UK and Euro Area bank conditions …
Persistent link: https://www.econbiz.de/10013054284