Transmitting Global Liquidity to East Asia: Policy Rates, Bond Yields, Currencies and Dollar Credit
Dong He and
Robert McCauley
No 152013, Working Papers from Hong Kong Institute for Monetary Research
Abstract:
We review extant work on the transmission of monetary policy, both conventional and unconventional, of the major advanced economies to East Asia through monetary policy reactions, integrated bond markets and induced currency appreciation. We present new results on the growth of foreign currency credit, especially US dollar credit, as a transmission mechanism. Restrained growth of dollar credit in Korea contrasts with very rapid growth on the Chinese mainland and in Hong Kong SAR.
Pages: 47 pages
Date: 2013-10
New Economics Papers: this item is included in nep-cba, nep-mon and nep-opm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (57)
Downloads: (external link)
http://www.hkimr.org/uploads/publication/360/wp-no-15_2013-final-.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.hkimr.org/uploads/publication/360/wp-no-15_2013-final-.pdf [301 Moved Permanently]--> http://www.aof.org.hk/research/HKIMR/uploads/publication/360/wp-no-15_2013-final-.pdf [301 Moved Permanently]--> https://www.aof.org.hk/research/HKIMR/uploads/publication/360/wp-no-15_2013-final-.pdf)
Related works:
Working Paper: Transmitting global liquidity to East Asia: policy rates, bond yields, currencies and dollar credit (2013) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:hkm:wpaper:152013
Access Statistics for this paper
More papers in Working Papers from Hong Kong Institute for Monetary Research Contact information at EDIRC.
Bibliographic data for series maintained by HKIMR ().