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International bank lending to emerging market countries: explaining the 1990s roller coaster

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  • Serge Jeanneau
  • Marian Micu

Abstract

This special feature systematically examines the determinants of changes in the claims of BIS reporting banks on the largest emerging market countries in Asia and Latin America. The work is guided by the hypothesis that lending flows tend to be driven by economic fundamentals but that other factors can also at times be influential. Adopting a well known approach distinguishing between external ("push") and internal ("pull") determinants of lending flows, preliminary results show that both types of factors influence international bank lending. Additional tests suggest that international bank lending may have depended on the prevailing exchange rate regime.

Suggested Citation

  • Serge Jeanneau & Marian Micu, 2002. "International bank lending to emerging market countries: explaining the 1990s roller coaster," BIS Quarterly Review, Bank for International Settlements, March.
    • Handle: RePEc:bis:bisqtr:0203f
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    8. Rodrigo Vergara, 2014. "Monetary Policy in Advanced Economies: Some Challenges for Emerging Economies," Economic Policy Papers Central Bank of Chile 51, Central Bank of Chile.
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    10. Serge Jeanneau & Marian Micu, 2002. "Determinants of international bank lending to emerging market countries," BIS Working Papers 112, Bank for International Settlements.
    11. Hardik A. Marfatia, 2016. "The Role of Push and Pull Factors in Driving Global Capital Flows," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot GmbH, Berlin, vol. 62(2), pages 117-146.
    12. Sophie Brana & Delphine Lahet, 2011. "Foreign Banks and the Stability of Foreign and Domestic Credit in CEECs," Larefi Working Papers 1107, Larefi, Université Bordeaux 4.
    13. Brana, Sophie & Lahet, Delphine, 2009. "Les déterminants des entrées de capitaux en Asie : quel rôle pour les stratégies de carry trade?," L'Actualité Economique, Société Canadienne de Science Economique, vol. 85(3), pages 283-302, septembre.
    14. Carlos Alba & Gabriel Cuadra & Juan R. Hernandez & Raul Ibarra, 2024. "Capital flows to emerging economies and global risk aversion during the COVID‐19 pandemic," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(3), pages 2804-2836, July.
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    20. Brana, Sophie & Lahet, Delphine, 2010. "Determinants of capital inflows into Asia: The relevance of contagion effects as push factors," Emerging Markets Review, Elsevier, vol. 11(3), pages 273-284, September.

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