Banking Flows and Financial Crisis : Financial Interconnectedness and Basel III Effects

Ghosh, Swati R.; Sugawara, Naotaka; Zalduendo, Juan

dc.creator	Ghosh, Swati R.
dc.creator	Sugawara, Naotaka
dc.creator	Zalduendo, Juan
dc.date	2012-03-19T18:06:48Z
dc.date	2012-03-19T18:06:48Z
dc.date	2011-08-01
dc.date.accessioned	2023-02-17T21:01:37Z
dc.date.available	2023-02-17T21:01:37Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111213102006
dc.identifier	http://hdl.handle.net/10986/3684
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/244648
dc.description	This paper examines the factors that determine banking flows from advanced economies to emerging markets. In addition to the usual determinants of capital flows in terms of global push and local pull factors, it examines the role of bilateral factors, such as growth differentials and economic size, as well as contagion factors and measures of the depth in financial interconnectedness between lenders and borrowers. The analysis finds profound differences across regions. In particular, in spite of the severe impact of the global financial crisis, banking flows in emerging Europe stand out as a more stable region than is the case in other developing regions. Assuming that the determinants of banking flows remain unchanged in the presence of structural changes, the authors use these results to explore the short-term implications of Basel III capital regulations on banking flows to emerging markets.
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 5769
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ADVANCED COUNTRIES
dc.subject	ADVANCED ECONOMIES
dc.subject	ADVANCED ECONOMY
dc.subject	AGENCY PROBLEMS
dc.subject	AMOUNT OF CAPITAL
dc.subject	AMOUNT OF LOANS
dc.subject	ASSET PRICES
dc.subject	ASYMMETRIC INFORMATION
dc.subject	BALANCE OF PAYMENTS
dc.subject	BALANCE SHEET
dc.subject	BALANCE SHEETS
dc.subject	BANK LENDING
dc.subject	BANK OF ENGLAND
dc.subject	BANK POLICY
dc.subject	BANKING CRISES
dc.subject	BANKING INSTITUTIONS
dc.subject	BANKING SECTOR
dc.subject	BANKING SECTOR DEVELOPMENTS
dc.subject	BANKING SECTORS
dc.subject	BANKING SUPERVISION
dc.subject	BANKING SYSTEM
dc.subject	BANKING SYSTEMS
dc.subject	BASIS POINT
dc.subject	BASIS POINTS
dc.subject	BOND
dc.subject	BOND FLOWS
dc.subject	BOND MARKETS
dc.subject	BONDS
dc.subject	BORROWER
dc.subject	BORROWING
dc.subject	BUSINESS CYCLE
dc.subject	CAPITAL ACCOUNT
dc.subject	CAPITAL ADEQUACY
dc.subject	CAPITAL ADEQUACY RATIOS
dc.subject	CAPITAL BASE
dc.subject	CAPITAL FLOW
dc.subject	CAPITAL FLOWS
dc.subject	CAPITAL INFLOWS
dc.subject	CAPITAL MARKETS
dc.subject	CAPITAL RATIO
dc.subject	CAPITAL RATIOS
dc.subject	CAPITAL REQUIREMENT
dc.subject	CAPITAL REQUIREMENTS
dc.subject	CAPITAL STANDARDS
dc.subject	CAPITAL STRUCTURE
dc.subject	CAPITALIZATION
dc.subject	COLLATERAL
dc.subject	CORPORATE GOVERNANCE
dc.subject	COST OF CAPITAL
dc.subject	COST OF EQUITY
dc.subject	COUNTRY RISK
dc.subject	CREDIT AVAILABILITY
dc.subject	CREDIT GROWTH
dc.subject	CREDIT MARKET
dc.subject	CREDIT MARKETS
dc.subject	CREDITOR
dc.subject	CRISIS COUNTRIES
dc.subject	CRISIS COUNTRY
dc.subject	CROSS-BORDER FLOWS
dc.subject	CURRENCY
dc.subject	CURRENCY CRISES
dc.subject	CURRENT ACCOUNT BALANCE
dc.subject	CURRENT ACCOUNT DEFICITS
dc.subject	DEBT
dc.subject	DEBT FLOWS
dc.subject	DEBT-EQUITY
dc.subject	DEBT-EQUITY SWAPS
dc.subject	DEBTOR
dc.subject	DECLINE IN INVESTMENT
dc.subject	DERIVATIVES
dc.subject	DEVELOPING COUNTRIES
dc.subject	DIVIDEND
dc.subject	DIVIDEND PAYMENTS
dc.subject	DOMESTIC BANK
dc.subject	DOMESTIC CAPITAL
dc.subject	DUMMY VARIABLE
dc.subject	DUMMY VARIABLES
dc.subject	DURABLE
dc.subject	EMERGING MARKET
dc.subject	EMERGING MARKET ECONOMIES
dc.subject	EMERGING MARKETS
dc.subject	EQUITY CAPITAL
dc.subject	EQUITY INVESTMENT
dc.subject	EQUITY INVESTMENTS
dc.subject	EXCHANGE RATE MOVEMENTS
dc.subject	EXCHANGE RATE REGIME
dc.subject	EXCHANGE RATES
dc.subject	EXPORT GROWTH
dc.subject	EXPOSURE
dc.subject	EXPOSURES
dc.subject	FACTORS OF PRODUCTION
dc.subject	FINANCIAL ASSET
dc.subject	FINANCIAL CRISES
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL DEVELOPMENT
dc.subject	FINANCIAL FLOWS
dc.subject	FINANCIAL INFRASTRUCTURE
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL INTEGRATION
dc.subject	FINANCIAL MARKETS
dc.subject	FINANCIAL OPENNESS
dc.subject	FINANCIAL STABILITY
dc.subject	FINANCIAL SYSTEM
dc.subject	FINANCIAL TRANSACTIONS
dc.subject	FLEXIBLE EXCHANGE RATE
dc.subject	FLOW OF INFORMATION
dc.subject	FOREIGN CAPITAL
dc.subject	FOREIGN DIRECT INVESTMENT
dc.subject	FOREIGN EXCHANGE
dc.subject	FOREIGN EXCHANGE RESERVE
dc.subject	FOREIGN INTEREST
dc.subject	FOREIGN MARKETS
dc.subject	GLOBAL BANKING
dc.subject	GLOBAL CAPITAL
dc.subject	GLOBAL ECONOMY
dc.subject	GLOBAL FINANCIAL MARKETS
dc.subject	GLOBAL RISKS
dc.subject	GOVERNMENT POLICIES
dc.subject	HOLDING
dc.subject	HOME COUNTRY
dc.subject	HOME MARKET
dc.subject	HOST COUNTRIES
dc.subject	HOST COUNTRY
dc.subject	INCOME
dc.subject	INFLATION
dc.subject	INTEREST DIFFERENTIAL
dc.subject	INTEREST DIFFERENTIALS
dc.subject	INTEREST RATE
dc.subject	INTEREST RATE DIFFERENTIAL
dc.subject	INTEREST RATE DIFFERENTIALS
dc.subject	INTEREST RATES
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL BANKING
dc.subject	INTERNATIONAL BANKS
dc.subject	INTERNATIONAL CAPITAL
dc.subject	INTERNATIONAL CAPITAL MARKET
dc.subject	INTERNATIONAL CREDIT
dc.subject	INTERNATIONAL DEVELOPMENT
dc.subject	INTERNATIONAL ECONOMICS
dc.subject	INTERNATIONAL FINANCE
dc.subject	INTERNATIONAL FINANCIAL STATISTICS
dc.subject	INTERNATIONAL PORTFOLIO
dc.subject	INVESTING
dc.subject	INVESTMENT FLOWS
dc.subject	INVESTMENT RATES
dc.subject	ISSUANCES
dc.subject	LENDER
dc.subject	LENDERS
dc.subject	LENDING DECISIONS
dc.subject	LENDING SPREAD
dc.subject	LENDING SPREADS
dc.subject	LIQUIDITY
dc.subject	LIQUIDITY RISK
dc.subject	LOAN
dc.subject	LOAN PORTFOLIOS
dc.subject	LOCAL CURRENCY
dc.subject	LONG-TERM EXTERNAL DEBT
dc.subject	MACROECONOMIC CONDITIONS
dc.subject	MACROECONOMIC POLICIES
dc.subject	MACROECONOMIC VARIABLES
dc.subject	MACROECONOMICS
dc.subject	MARKET INTEREST RATE
dc.subject	MARKET PARTICIPANTS
dc.subject	MARKET VOLATILITY
dc.subject	MIDDLE-INCOME COUNTRIES
dc.subject	MINIMUM CAPITAL REQUIREMENTS
dc.subject	MONETARY AUTHORITIES
dc.subject	MONEY MARKET
dc.subject	NATIONAL SAVINGS
dc.subject	OFF BALANCE SHEET
dc.subject	OPERATING EFFICIENCY
dc.subject	OUTPUT
dc.subject	POLITICAL STABILITY
dc.subject	PORTFOLIO
dc.subject	PORTFOLIO FLOWS
dc.subject	PORTFOLIO INVESTMENT
dc.subject	PORTFOLIO INVESTMENTS
dc.subject	POSITIVE COEFFICIENT
dc.subject	PRIVATE CAPITAL
dc.subject	PRIVATE CAPITAL FLOWS
dc.subject	PRIVATE CAPITAL INFLOWS
dc.subject	PROBABILITY OF DEFAULT
dc.subject	PRODUCTION STRUCTURE
dc.subject	PROFITABILITY
dc.subject	PRUDENTIAL REGULATION
dc.subject	PRUDENTIAL REGULATIONS
dc.subject	PUSH FACTOR
dc.subject	PUSH FACTORS
dc.subject	RATE OF RETURN
dc.subject	REAL EXCHANGE RATE
dc.subject	REGIONAL DUMMIES
dc.subject	REGIONAL DUMMY
dc.subject	REGULATORY CAPITAL
dc.subject	REGULATORY FRAMEWORK
dc.subject	REPAYMENTS
dc.subject	RETAINED EARNINGS
dc.subject	RETURNS
dc.subject	RISK AVERSION
dc.subject	RISK FACTOR
dc.subject	RISK MANAGEMENT
dc.subject	RISKY ASSETS
dc.subject	SAVINGS RATES
dc.subject	SOVEREIGN RISK
dc.subject	SUBSIDIARIES
dc.subject	TIER 1 CAPITAL
dc.subject	TIER 2 CAPITAL
dc.subject	TRADE FLOWS
dc.subject	TRADING
dc.subject	TRANSACTION
dc.subject	TRANSACTION COSTS
dc.subject	TRANSPARENCY
dc.subject	TRANSPORT
dc.subject	TREASURIES
dc.subject	VALUATION
dc.title	Banking Flows and Financial Crisis : Financial Interconnectedness and Basel III Effects
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	The World Region
dc.coverage	The World Region