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|c 5.00 USD
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|z 9781484325216
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Choi, Woon.
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|a Global Liquidity Transmission to Emerging Market Economies, and Their Policy Responses /
|c Woon Choi, Taesu Kang, Geun-Young Kim, Byongju Lee.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2017.
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| 300 |
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|a 1 online resource (31 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper distills and identifies global liquidity (GL) momenta from the macro-financial data of advanced economies through a factor model with sign restrictions as policy-driven, market-driven, and risk averseness factors. Using a panel factor-augmented VAR, we investigate responses of emerging market economies (EMEs) to GL shocks. A policy-driven liquidity increase boosts growth in EMEs, elevating stock prices and currency values, while a risk averseness rise has an opposite effect. A market-driven GL expansion boosts stock markets and lowers funding costs, promoting competitiveness and current account. Inflation targeting EMEs fare better than EMEs under alternative regimes with respect to macrofinancial volatility.
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|a Mode of access: Internet
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|a Kang, Taesu.
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|a Kim, Geun-Young.
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|a Lee, Byongju.
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|a IMF Working Papers; Working Paper ;
|v No. 2017/222
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2017/222/001.2017.issue-222-en.xml
|z IMF e-Library
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