Cross-border bank flows are experiencing a protracted contraction after the global financial crisis, in stark contrast with the recovery of other capital flows. The process can be driven by ongoing shifts in global banks international funding patters. Banks net issuances in international markets...

This paper reviews the impact of the global economic and financial crisis on two distinct emerging market regions: Central, Eastern and Southeastern Europe (CESEE) and Latin America. Similar to other emerging economies, both regions were initially surprisingly resilient as the crisis gathered...