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Preventing Currency Crises in Emerging Markets$
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Sebastian Edwards and Jeffrey A. Frankel

Print publication date: 2002

Print ISBN-13: 9780226184944

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226185057.001.0001

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When is U.S. Bank Lending to Emerging Markets Volatile?

When is U.S. Bank Lending to Emerging Markets Volatile?

Chapter:
(p.171) 4 When is U.S. Bank Lending to Emerging Markets Volatile?
Source:
Preventing Currency Crises in Emerging Markets
Author(s):
Linda S. Goldberg
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226185057.003.0005

This chapter employs new data to examine U.S. banks' lending practices toward emerging nations. It specifically explores the extent to which U.S. banks that lend to the emerging markets respond to changing macroeconomic conditions, both in the United States and in the borrowing countries. Although it is shown that significant differences exist across banks and over time in the size and composition of U.S. bank foreign claims, it did not address the reasons for and timing of changes in these claims. Additionally, the U.S. banks may add to more stable overall credit supplies in emerging markets. There is little evidence of systematic differences in the behavior of U.S. bank claims across periods associated with international financial crises. Furthermore, it is suggested that U.S. banks are not volatile lenders, but it would be helpful to look at this issue in more detail.

Keywords:   U.S. banks, bank lending, credit supplies, emerging markets, international financial crises, volatile lenders

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