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Imbalance Of Financial Systems Of East Asian Region, Driven ВУ Global Liquidity Flows

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  • N. V. Gushcha

Abstract

The relevance of a subject of a research is caused by often repeating system financial crises quickly developing into the international crises and also need of increase in financial stability for the East Asian region. There is extensive literature on the problem of global liquidity, which analyzes the transmission channels of capital flows to East Asia emerging markets, including the impact on risks to financial stability and financial landscapes.In the paper attention shifts from the transmission channels to the state of the assets, which are the end result of the effect of capital flows on the financial systems of developing countries and, as a consequence, their financial stability. The article defines the concept of structural imbalances as well.

Suggested Citation

  • N. V. Gushcha, 2017. "Imbalance Of Financial Systems Of East Asian Region, Driven ВУ Global Liquidity Flows," International Trade and Trade Policy, ФГБОУ ВО "Ð Ð¾Ñ Ñ Ð¸Ð¹Ñ ÐºÐ¸Ð¹ Ñ ÐºÐ¾Ð½Ð¾Ð¼Ð¸Ñ‡ÐµÑ ÐºÐ¸Ð¹ ÑƒÐ½Ð¸Ð²ÐµÑ€Ñ Ð¸Ñ‚ÐµÑ‚ им. Г.Ð’. Плеханова", issue 3.
    • Handle: RePEc:acl:journl:y:2017:id:207
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    References listed on IDEAS

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    1. Kyuil Chung & Jong-Eun Lee & Elena Loukoianova & Hail Park & Hyun Song Shin, 2015. "Global liquidity through the lens of monetary aggregates," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 30(82), pages 231-290.
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    3. Kim, Soyoung & Yang, Doo Yong, 2008. "The Impact of Capital Inflows on Emerging East Asian Economies: Is Too Much Money Chasing Too Little Good?," Working Papers on Regional Economic Integration 15, Asian Development Bank.
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    5. Bas B. Bakker & Giovanni Dell'Ariccia & Luc Laeven & Jérôme Vandenbussche & Deniz O Igan & Hui Tong, 2012. "Policies for Macrofinancial Stability; How to Deal with Credit Booms," IMF Staff Discussion Notes 12/06, International Monetary Fund.
    6. Hyun Song Shin & Kwanho Shin, 2011. "Procyclicality and Monetary Aggregates," NBER Working Papers 16836, National Bureau of Economic Research, Inc.
    7. Philip Turner, 2014. "The global long-term interest rate, financial risks and policy choices in EMEs," BIS Working Papers 441, Bank for International Settlements.
    8. Tao Sun, 2015. "The Impact of Global Liquidity on Financial Landscapes and Risks in the ASEAN-5 Countries," IMF Working Papers 2015/211, International Monetary Fund.
    9. Stefan Avdjiev & Robert McCauley & Patrick McGuire, 2012. "Rapid credit growth and international credit: Challenges for Asia," BIS Working Papers 377, Bank for International Settlements.
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