000296015 001__ 296015
000296015 005__ 20250213113258.0
000296015 0247_ $$2doi$$a10.71609/iheid-v5zc-nt37
000296015 037__ $$aBOOK
000296015 245__ $$aForeign currency bank funding and global factors
000296015 260__ $$aGeneva$$bGraduate Institute of International and Development Studies, International Economics Department$$c2018
000296015 269__ $$a2018
000296015 300__ $$a62 p. : ill.
000296015 336__ $$aPapers and Reports
000296015 490__ $$aGraduate Institute of International and Development Studies Working Paper ; no. 09/2018
000296015 520__ $$aThe literature on drivers of capital flows stresses the prominent role of global financial factors. Recent empirical work, however, highlights how this role varies across countries and time, and this heterogeneity is not well understood. We revisit this question by focusing on financial intermediaries' funding flows in different currencies. A portfolio model shows that the sign and magnitude of the response of foreign currency funding flows to global risk factors depend on the financial intermediary's pre-existing currency exposure. Analysis of data on European banks' aggregate balance sheets lends support to the model predictions, especially in countries outside the euro area.
000296015 700__ $$aKrogstrup, Signe
000296015 700__ $$aTille, Cédric
000296015 8564_ $$9a7542d19-8832-403f-ae44-c77d6045f565$$s408104$$uhttps://repository.graduateinstitute.ch/record/296015/files/HEIDWP09-2018.pdf
000296015 901__ $$uInternational Economics Department$$0319285
000296015 901__ $$uCentre for Finance and Development
000296015 909CO $$ooai:repository.graduateinstitute.ch:296015$$pGLOBAL_SET$$pIHEID:Explore