vector auto-regression model, we show that long-term interest rates in Asia are indeed predominantly driven by global factors …-term interest rates. Nevertheless, the monetary transmission mechanism, though effective, is somewhat weaker in Asia during the …

examines the impact of that deleveraging on credit supply in recipient economies, with a particular focus on Asia …, the credit supply response in Asia was only about half the size of the response in non-Asian countries, possibly due to a …