Determinants of International Bank Lending to Emerging Market Countries
Determinants of International Bank Lending to Emerging Market Countries
复制标题
国际银行向新兴市场国家贷款的决定因素
DOI：
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发表时间：
2002
期刊：
影响因子：
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通讯作者：
Marian Micu
中科院分区：
文献类型：
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作者：
S. Jeanneau;Marian Micu
本文通过基于“推”/“拉”因素的框架分析了国际银行向亚洲和拉丁美洲最大国家提供贷款的决定因素。我们的结果表明，这两类因素决定了国际银行贷款。然而，它们与 20 世纪 90 年代初文献的不同之处在于，对新兴市场国家的贷款总额似乎对贷款国的增长是顺周期的，而不是反周期的。此外，20世纪90年代短期贷款的急剧增加似乎很大程度上是一种拉动现象。此外，有证据表明，固定利率制度鼓励了国际银行放贷，同时也存在跟风效应和传染效应。关于资本充足率的巴塞尔协议的出台似乎并没有在国际银行向新兴经济体放贷方面发挥重要作用。
This paper analyses the determinants of international bank lending to the largest countries in Asia and Latin America through a framework based on "push"/"pull" factors. Our results show that both types of factors determine international bank lending. However, they differ from those of the early 1990s' literature in that aggregate lending to emerging market countries appears to have been procyclical to growth in lending countries rather than countercyclical. Moreover, the sharp increase in short-term lending during the 1990s seems to have been largely a pull phenomenon. Additionally, there is evidence that fixed rate regimes encouraged international bank lending, while bandwagon and contagion effects were also present. The introduction of the Basel Accord on capital adequacy does not appear to have played a significant role in international bank lending to emerging economies.