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Capital Flows, Cross-Border Banking and Global Liquidity / Valentina Bruno, Hyun Song Shin.
- Format:
- Book
- Author/Creator:
- Bruno, Valentina.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w19038.
- NBER working paper series no. w19038
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2013.
- Summary:
- 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 financial conditions across borders. We then test the predictions of our model in a panel study of 46 countries and find that global factors dominate local factors as determinants of banking sector capital flows.
- Notes:
- Print version record
- May 2013.
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