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Jurnal

Journal of Banking and Finance

Keyword

Credit cycles;Capital flows;Macroprudential policies;Reserve requirements;Emerging market economies

Pengarang

Salih Fendoglu

Subject

  1. FINANCIAL
  2. BANKING

    [Abstrak]

    I assess the effectiveness of macroprudential policy tools in containing
    credit cycles per se or the impact of portfolio inflows on the cycles
    in major emerging market economies. The results show that borrower-based
    tools, measures with a domestic focus, and domestic reserve
    requirements are particularly effective. The findings are, in most
    cases, stronger for the recent period during which most of the
    macroprudential actions are undertaken, and generally hold for
    alternative definitions of credit cycle, the monetary policy stance, and
    portfolio inflows. Weaker results emerge for
    financial-institutions-based or foreign-currency related macroprudential
    tools.

    Periode

    Vol 79, Tahun 2017

    [Berkas]

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