the world than many developing countries. A noteworthy feature of this theory is that financial and property rights …

lending to global risk conditions declined considerably post-crisis and became similar to that of international debt …. By contrast, the post-crisis fall in the sensitivity of international bank lending to global risk was mainly due to a …

Risk Response Index, which reflects the country-specific sensitivity of capital flow pressures to measures of global risk … aversion. For a large sample of countries over time, we demonstrate time variation in the effects of global risk on exchange … market pressures, the evolving importance of the global factor across types of countries, and the changing risk-on or risk …

The risk sensitivity of international capital flow pressures is explored using a new Exchange Market Pressure index … masked by foreign exchange interventions and policy rate adjustments. The sensitivity of capital flow pressures to risk … between normal time and extreme stress events. Across countries, risk sensitivities and safe haven status are associated with …

conditions like risk sentiment, discussed in the context of the global financial cycle, depends on the characteristics and … provides policy-relevant lessons. International spillovers of monetary policy and risk sentiment through global liquidity … partially alleviated. However, risk migration across types of financial intermediaries underscores the importance of advancing …