Global Liquidity through the Lens of Monetary Aggregates /

This paper examines how the financial activities of non-financial corporates (NFCs) in international markets potentially affects domestic monetary aggregates and financial conditions. Monetary aggregates reflect, in part, the activities of NFCs, who channel capital market financing into the domestic...

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Hlavní autor: Chung, Kyuil
Další autoři: Lee, Jong-Eun, Loukoianova, Elena, Park, Hail
Médium: Časopis
Jazyk:English
Vydáno: Washington, D.C. : International Monetary Fund, 2014.
Edice:IMF Working Papers; Working Paper ; No. 2014/009
On-line přístup:Full text available on IMF
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245 1 0 |a Global Liquidity through the Lens of Monetary Aggregates /  |c Kyuil Chung, Jong-Eun Lee, Elena Loukoianova, Hail Park. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2014. 
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490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper examines how the financial activities of non-financial corporates (NFCs) in international markets potentially affects domestic monetary aggregates and financial conditions. Monetary aggregates reflect, in part, the activities of NFCs, who channel capital market financing into the domestic banking system, thereby influencing funding conditions and credit availability. Periods of capital inflows are also those when the domestic currency is appreciating, and such periods of rapid exchange rate appreciation coincide with increases in the central bank's foreign exchange reserves, increasing the stock of narrow money. The paper examines economic significance of cross-country panel data on monetary aggregates and other measures of non-core bank liabilities. Non-core liabilities that reflect the activities of NFCs reflect broad credit conditions and predict global trade and growth. 
538 |a Mode of access: Internet 
700 1 |a Lee, Jong-Eun. 
700 1 |a Loukoianova, Elena. 
700 1 |a Park, Hail. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2014/009 
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