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200301 ||| eng |
| 020 |
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|a 9781484378328
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| 100 |
1 |
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|a Cerutti, Eugenio
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| 245 |
0 |
0 |
|a Cross-border Banking and the Circumvention of Macroprudential and Capital Control Measures
|c Eugenio Cerutti, Haonan Zhou
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2018
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| 300 |
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|a 46 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Financial Markets and the Macroeconomy
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| 653 |
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|a Financial sector policy and analysis
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| 653 |
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|a Money
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| 653 |
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|a Macroprudential policy instruments
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| 653 |
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|a Economic policy
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| 653 |
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|a Cross-border banking
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| 653 |
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|a Exports and Imports
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| 653 |
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|a Financial services
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| 653 |
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|a Long-term Capital Movements
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| 653 |
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|a Micro Finance Institutions
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| 653 |
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|a International Investment
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| 653 |
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|a Banks and banking
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| 653 |
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|a International Lending and Debt Problems
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Balance of payments
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| 653 |
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|a International economics
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| 653 |
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|a International Financial Markets
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| 653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Banks
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| 653 |
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|a Macroprudential policy
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| 653 |
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|a Depository Institutions
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| 653 |
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|a Capital movements
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| 653 |
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|a Macroeconomics
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| 653 |
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|a International Policy Coordination and Transmission
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| 653 |
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|a Monetary economics
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| 653 |
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|a Credit
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| 653 |
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|a Bank credit
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| 653 |
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|a International finance
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| 653 |
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|a Mortgages
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| 653 |
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|a Banking
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| 653 |
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|a Capital controls
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| 700 |
1 |
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|a Zhou, Haonan
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781484378328.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2018/217/001.2018.issue-217-en.xml?cid=46272-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a We analyze the joint impact of macroprudential and capital control measures on cross-border banking flows, while controlling for multidimensional aspects in lender-and-borrower-relationships (e.g., distance, cultural proximity, microprudential regulations). We uncover interesting spillover effects from both types of measures when applied either by lender or borrowing countries, with many of them most likely associated with circumvention or arbitrage incentives. While lender countries' macroprudential policies reduce direct cross-border banking outflows, they are associated with larger outflows through local affiliates. Direct cross-border inflows are higher in borrower countries with more usage of macroprudential policies, and are linked to circumvention motives. In the case of capital controls, most spillovers seem to be present through local affiliates. We do not find evidence to support the idea that additional capital inflow controls could interact with macro-prudential policies to mitigate cross-border spillovers
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