. I find that after the shock international banks reduce bank-to-bank lending to Peruvian banks and Peruvian banks reduce … lending to Peruvian firms. The effect is strongest for domestically-owned banks that borrow internationally, intermediate for … several banks. These results suggest that bank-to-bank lending establishes an international transmission channel for liquidity …

This paper explains why domestic debt composition in emerging economies is risky. It carries out an analysis of the … domestic debt composition, which encompasses maturity mismatches, rollover risk and interest payment contingency. The paper … inflation is lofty, the debt service-to-GDP ratio high, the slope of the yield curve inverted and the investor base narrow …

, foreign currency-denominated lending). But are all inflows the same? In this paper, we examine whether the source of the … investment, portfolio debt and other investment flows are associated with larger macroeconomic imbalances and financial …