Foreign banks and international transmission of monetary policy: Evidence from the syndicated loan market

被引：10
|
作者：
Demirguc-Kunt, Asli [1 ]
Horvath, Balint L. [2 ]
Huizinga, Harry [3 ,4 ]
机构：
[1] World Bank, 1818 H St NW, Washington, DC 20433 USA
[2] Univ Bristol, Bristol, Avon, England
[3] Tilburg Univ, Tilburg, Netherlands
[4] CEPR, London, England
来源：
EUROPEAN ECONOMIC REVIEW | 2020年 / 129卷
关键词：
Cross-border lending; Monetary transmission; Foreign ownership of banks; LIQUIDITY SHOCKS EVIDENCE; FINANCIAL SHOCKS; LENDING CHANNEL; CROSS-BORDER; GLOBAL BANKS; FLIGHT HOME; CREDIT; ABROAD; IMPACT;
D O I：
10.1016/j.euroecorev.2020.103542
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper examines how the sensitivity of cross-border syndicated loan supply varies with the internationalization of borrower country banking sectors, banks and loan syndicates. A higher foreign bank presence in borrower countries mitigates the transmission of monetary policy. Prior lending experience of international banks in borrower countries also attenu-ates monetary transmission. In contrast, to the extent they become more international, the credit supply of banks and loan syndicates becomes more sensitive to lender-country monetary policy. (C) 2020 Elsevier B.V. All rights reserved.
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页数：21
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