| 来源类型 | Article and other Publication |
| 规范类型 | 其他 |
| Dealing with quantitative easing spillovers in East Asia: the role of institutions and macroprudential policy | |
| Saiki, Ayako; Pornpinun Chantapacdepong; Ulrich Volz | |
| 出版年 | 2016 |
| 摘要 | This paper explores the impact of advanced countries’ quantitative easing on emerging market economies (EMEs) and how macroprudential policy and good governance play a role in preventing potential financial vulnerabilities. We used confidential locational bank statistics data from the Bank for International Settlements to examine whether quantitative easing has caused an appreciation of EMEs’ currencies and how it has done so, and whether this has in turn boosted foreign-currency borrowing, thus making EMEs vulnerable to balance sheet and maturity mismatch problems. While focusing our analysis on East Asian economies, we compare them with Latin American economies, which were also major recipients of quantitative easing capital inflows. We found that government effectiveness plays an important role in curbing excessive borrowing when the exchange rate is overvalued. |
| URL | https://www.die-gdi.de/en/others-publications/article/dealing-with-quantitative-easing-spillovers-in-east-asia-the-role-of-institutions-and-macroprudential-policy/ |
| 来源智库 | German Development Institute (Germany) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/498778 |
| 推荐引用方式 GB/T 7714 | Saiki, Ayako,Pornpinun Chantapacdepong,Ulrich Volz. Dealing with quantitative easing spillovers in East Asia: the role of institutions and macroprudential policy. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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