Assessing Macroprudential Policies: Case of South Korea

Valentina Bruno and Hyun Song Shin

Scandinavian Journal of Economics, 2014, vol. 116, issue 1, 128-157

Abstract: In this paper, we develop methods for assessing the sensitivity of capital flows to global financial conditions. We use these methods to assess the impact of macroprudential policies introduced by South Korea in 2010. Relative to a comparison group of countries, we find that the sensitivity of capital flows into South Korea to global conditions decreased in the period following the introduction of macroprudential policies.

Date: 2014
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