Hot money in bank credit flows to emerging markets during the banking globalization era
(2014)
Journal Article
Fuertes, A., Phylaktis, K., & Yan, C. (2016). Hot money in bank credit flows to emerging markets during the banking globalization era. Journal of International Money and Finance, 60, 29-52. https://doi.org/10.1016/j.jimonfin.2014.10.002
This paper investigates the relative importance of hot money in bank credit and portfolio flows from the US to 18 emerging markets over the period 1988–2012. We deploy state-space models à la Kalman filter to identify the unobserved hot money as the... Read More about Hot money in bank credit flows to emerging markets during the banking globalization era.