The US vs. the EU: cross-border bank flows’ origin factor and shadow banking in emerging market economies

Subroto Rapih

Applied Economics Letters, 2022, vol. 29, issue 14, 1266-1270

Abstract: We explore the relationship between US bank claims and European bank claims on Emerging Market Economies (EMEs) and the level of shadow banking assets in 11 major EMEs over the 18-year period spanning 2002–2019. By using a fixed-effects panel model, we find that cross-border bank flows from US banks and European banks have different effects on shadow banking assets in EMEs. Whereas US bank claims on EMEs have a positive impact on the level of shadow banking assets in EMEs, European bank claims on EMEs are significantly negatively related to the level of shadow banking in EMEs.

Date: 2022
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DOI: 10.1080/13504851.2021.1926902

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