Foreign-funded credit: Funding the credit cycle?

IF 1.3 4区经济学 Q3 BUSINESS, FINANCE

International Finance Pub Date : 2022-03-22 DOI:10.1111/infi.12406

Patty Duijm

引用次数: 0

Abstract

This study investigates what drives the credit cycle, focusing on the role of foreign-funded bank credit (FFC). Considering credit cycles in 41 countries over the period 1985–2015, this study finds that credit booms are associated with an increase in the share of FFC in an economy. This especially holds for emerging economies and for credit provided to nonfinancial corporations. The increased credit needs during a boom may cause the substitution of domestically funded credit by FFC, as the growth in FFC is less restricted than domestically funded credit, such as the domestic deposit base.

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外资信贷:为信贷周期提供资金?

本研究探讨了驱动信贷周期的因素，重点关注外资银行信贷(FFC)的作用。考虑到1985年至2015年期间41个国家的信贷周期，本研究发现信贷繁荣与经济体中FFC份额的增加有关。这对新兴经济体和向非金融企业提供的信贷尤其适用。在经济繁荣时期，信贷需求的增加可能会导致FFC取代国内融资信贷，因为FFC的增长不像国内融资信贷(如国内存款基础)那样受到限制。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Finance Multiple-

CiteScore

2.50

自引率

8.30%

发文量

期刊介绍： International Finance is a highly selective ISI-accredited journal featuring literate and policy-relevant analysis in macroeconomics and finance. Specific areas of focus include: · Exchange rates · Monetary policy · Political economy · Financial markets · Corporate finance The journal''s readership extends well beyond academia into national treasuries and corporate treasuries, central banks and investment banks, and major international organizations. International Finance publishes lucid, policy-relevant writing in macroeconomics and finance backed by rigorous theory and empirical analysis. In addition to the core double-refereed articles, the journal publishes non-refereed themed book reviews by invited authors and commentary pieces by major policy figures. The editor delivers the vast majority of first-round decisions within three months.