Who is to Blame: Foreign Ownership or Foreign Funding?
作者： Samuel Munzele Maimbo , Inessa Love , Roberto Rocha , Erik Feyen , Raquel Letelier
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摘要: We investigate whether the credit contraction that followed global financial crisis is due to high foreign ownership or reliance on finding. apply panel vector autoregressions quarterly data for 41 countries and find domestic growth highly sensitive cross-border funding shocks around world. However, per se does not appear increase sensitivity of shocks. Rather, higher in with loan-to-deposit ratios. These findings have important policy implications many involved funding.
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