Cross-border bank lending during the taper tantrum: the role of emerging market fundamentals

Stefan Avdjiev and Elod Takats

BIS Quarterly Review, 2014

Abstract: Cross-border bank lending to emerging markets slowed sharply during the taper tantrum. The abruptness of this slowdown varied considerably across both lenders and borrowers. We use newly available data to explain the drivers of this cross-sectional variation. Although the initial tapering shock originated from advanced economies, EME-specific factors explain the bulk of the variation in the slowdown across lender-borrower pairs.

JEL-codes: F34 G15 G21 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (30)

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Persistent link: https://EconPapers.repec.org/RePEc:bis:bisqtr:1409g

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