Follow the Money: Quantifying Domestic Effects of Foreign Bank Shocks in the Great Recession

摘要: The financial crises have focused consider able academic and policy attention on the roles of foreign banks in transmitting shocks creating vulnerability for host or parent countries. Adverse consequences are presumed a premise their destabilizing behavior, particular surrounding branches banks, has taken hold. Global actively allocate funds across banking organizations, normal times stress periods ( Cetorelli Goldberg, forthcoming). During Great Recession, some eign locations US were “core investment markets” that continued as destinations funding, while other served funding would send even larger net flows to following balance-sheet disturbances (Cetorelli Goldberg 2011b). In this paper we provide complementary evidence focusing perspective country. We analyze activity