International Transmission of Bank and Corporate Distress [electronic resource] N'Diaye, Papa M'B. P..
- Washington, D.C. : International Monetary Fund, 2010.
- IMF eLibrary
IMF Working Papers; Working Paper No. 10/124.
IMF Working Papers; Working Paper No. 10/124
- Government document
1 online resource (43 p.)
- Local subjects:
- Bank balance sheets.
Bank default probability.
Bank lending relationship.
Banks balance sheets.
Number of parameters.
Probability of default.
Hong Kong Special Administrative Region of China.
- The paper evaluates how increases in banks’ and nonfinancial corporates’ default risk are transmitted in the global economy, using in a vector autoregression model for 30 advanced and emerging economies for the period from January 1996 to December 2008. The results point to two-way causality between bank and corporate distress and to significant global macroeconomic and financial spillovers from either type of distress when it originates in a systemic economy. Corporate distress in advanced economies has a larger impact on economic growth in emerging economies than bank distress in advanced economies has. In contrast, activity in advanced economies is more vulnerable to bank distress than to corporate distress.
- Description based on print version record.
- Chen, Qianying.
Gray, Dale F.
N'Diaye, Papa M'B. P.
Tamirisa, Natalia T.
- Other format:
- Print Version:
- Publisher Number:
- Access Restriction:
- Restricted for use by site license.
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