Abrigo MR, Love I (2016) Estimation of panel vector autoregression in Stata: a package of programs. Stata J 16(3):778–804.
- Acharya V, Cecchetti S, De Gregorio J, Kalemli-Ozcan S, Lane P, Panizza U (2015) Emerging economy corporate debt: the threat to financial stability. VoxEU https://voxeu.org/article/emerging-economy-corporate-debt-threat-financial-stability .
Paper not yet in RePEc: Add citation now
Adrian T, Shin HS (2010) Liquidity and leverage. J Finan Interm 19(3):418–437.
- Agenor PR, Montiel PJ (2015) Development macroeconomics. 4th edition. Princeton University Press.
Paper not yet in RePEc: Add citation now
Aizenman J, Chinn MD, Ito H (2016) Monetary policy spillovers and the trilemma in the new normal: periphery country sensitivity to core country conditions. J Int Money Finance 68:298–330.
Albagli E, Ceballos L, Claro S, Romero D (2019) Channels of US monetary policy spillovers to international bond markets. J Finan Econ 134(2):447–473.
Albrizio S, Choi S, Furceri D, Yoon C (2020) International bank lending channel of monetary policy. J Int Money Finance 102:102124.
Alper MCE, Forni L (2011) Public debt in advanced economies and its spillover effects on long-term yields. IMF Working Papers 11/210, International Monetary Fund.
Amstad M, Remolona E, Shek J (2016) How do global investors differentiate between sovereign risks? the new normal versus the old. J Int Money Finance 66:32–48.
Anaya P, Hachula M, Offermanns CJ (2017) Spillovers of us unconventional monetary policy to emerging markets: the role of capital flows. J Int Money Finance 73:275–295.
Andrews DW, Lu B (2001) Consistent model and moment selection procedures for gmm estimation with application to dynamic panel data models. J Econometr 101(1):123–164.
- Arora V, Vamvakidis A (2004) The impact of the US economic growth on the rest of the world: how much does it matter? J Econ Integ 1–18.
Paper not yet in RePEc: Add citation now
Arslanalp MS, Tsuda MT (2014) Tracking global demand for emerging market sovereign debt. IMF Working Papers 14/39, International Monetary Fund.
Avdjiev S, Hale G (2019) US monetary policy and fluctuations of international bank lending. J Int Money Finance 95:251–268.
Bellas D, Papaioannou MG, Petrova IK (2010) Determinants of emerging market sovereign bond spreads: fundamentals vs financial stress. IMF Working Paper 10/281, International Monetary Fund.
- Bernanke BS (2005) The global saving glut and the US current account deficit. speech. The Homer Jones Lecture, St. Louis, Missouri, https://www.federalreserve.gov/boarddocs/speeches/2005/200503102/default.htm .
Paper not yet in RePEc: Add citation now
- BIS (2011) Global liquidity–concept, measurement and policy implications. CGFS Papers 45, Bank of International Settlements.
Paper not yet in RePEc: Add citation now
- BIS (2015) EME vulnerabilities take centre stage. BIS Quarterly Review, Bank of International Settlements.
Paper not yet in RePEc: Add citation now
Borio CE, Disyatat P (2011) Global imbalances and the financial crisis: link or no link? BIS Working Papers 346, Bank of International Settlements.
Brana S, Prat S (2016) The effects of global excess liquidity on emerging stock market returns: evidence from a panel threshold model. Econ Modell 52:26–34.
Bruno V, Shin HS (2014) Cross-border banking and global liquidity. Rev Econ Stud 82(2):535–564.
Bruno V, Shin HS (2015) Capital flows and the risk-taking channel of monetary policy. J Monet Econ 71:119–132.
Byrne JP, Fiess N (2016) International capital flows to emerging markets: national and global determinants. J Int Money Finance 61:82–100.
Canova F, Ciccarelli M (2012) ClubMed? Cyclical fluctuations in the mediterranean basin. J Int Econ 88(1):162–175.
Canova F, Pappa E (2007) Price differentials in monetary unions: the role of fiscal shocks. Econ J 117(520):713–737.
Cerutti E, Claessens S, Laeven L (2017) The use and effectiveness of macroprudential policies: new evidence. J Finan Stab 28:203–224.
Cetorelli N, Goldberg LS (2012) Liquidity management of US global banks: internal capital markets in the great recession. J Int Econ 88(2):299–311.
Choi S (2018) The impact of us financial uncertainty shocks on emerging market economies: an international credit channel. Open Econ Rev 29(1):89–118.
Choi S, Furceri D (2019) Uncertainty and cross-border banking flows. J Int Money Finance 93:260–274.
Choudhry T, Hassan SS, Shabi S (2020) Us economic uncertainty, eu business cycles, and the global financial crisis. Int J Finance Econ 25(1):28–42.
Ciarlone A, Piselli P, Trebeschi G (2009) Emerging markets’ spreads and global financial conditions. J Int Finan Markets Inst Money 19(2):222–239.
Ciccarelli M, Maddaloni A, Peydró JL (2013) Heterogeneous transmission mechanism: monetary policy and financial fragility in the Eurozone. Econ Policy 28(75):459–512.
Clark E, Kassimatis K (2015) Macroeconomic effects on emerging-markets sovereign credit spreads. J Finan Stab 20:1–13.
Comelli F (2012) Emerging market sovereign bond spreads: estimation and back-testing. Emerg Markets Rev 13(4):598–625.
- Csontó B (2014) Emerging market sovereign bond spreads and shifts in global market sentiment. Emerg Markets Rev 20:58–74.
Paper not yet in RePEc: Add citation now
Dees S, Mauro F, Pesaran MH, Smith LV (2007) Exploring the international linkages of the Euro area: a global VAR analysis. J Appl Econometr 22(1):1–38.
Diamond DW (1991) Monitoring and reputation: the choice between bank loans and directly placed debt. J Polit Econ 99(4):689–721.
Ehlers R, Villar A (2015) The role of banks. In: What do new forms of finance mean for EM central banks? BIS paper 82:9–40.
Fernandez-Arias E (1996) The new wave of private capital inflows: push or pull? J Dev Econ 48(2):389–418.
- Feroli M, Kashyap AK, Schoenholtz KL, Shin HS (2014) Market tantrums and monetary policy. Chichago Booth Research Papers 14–09, University of Chicago.
Paper not yet in RePEc: Add citation now
Forbes KJ, Warnock FE (2012) Capital flow waves: surges, stops, flight, and retrenchment. J Int Econ 88(2):235–251.
Galariotis EC, Makrichoriti P, Spyrou S (2016) Sovereign cds spread determinants and spill-over effects during financial crisis: a panel var approach. J Finan Stab 26:62–77.
Gauvin L, McLoughlin C, Reinhardt D (2014) Policy uncertainty spillovers to emerging markets–evidence from capital flows. Staff Working Paper 512, Bank of England.
Georgiadis G (2016) Determinants of global spillovers from us monetary policy. J int Money Finance 67:41–61.
Gonzalez A, Teräsvirta T, van Dijk D, Yang Y (2017) Panel smooth transition regression models. SSE/EFI Working Paper Series in Economics and Finance 604, Stockholm School of Economics.
Gruic B, Wooldridge P (2015) BIS debt securities statistics: a comparison of nationality data with external debt statistics. IFC Bull 39:420–4.
Hale G (2007) Bonds, loans and country risk: effect of macroeconomic fundamentals. Econ J 117(516):196–215.
- Hamilton JD (1994) Time series analysis, vol 2. Princeton University Press.
Paper not yet in RePEc: Add citation now
Hansen BE (1999) Threshold effects in non-dynamic panels: estimation, testing, and inference. J Econometr 93(2):345–368.
Hattori M, Takats E (2015) The role of debt securities markets. In: Settlements BfI (ed) What do new forms of finance mean for EM central banks? vol 83. Bank for International Settlements, pp 41–64.
Herrmann S, Mihaljek D (2013) The determinants of cross-border bank flows to emerging markets: new empirical evidence on the spread of financial crises. Econ Trans 21(3):479–508.
Holtz-Eakin D, Newey W, Rosen HS (1988) Estimating vector autoregressions with panel data. Econometrica 56(6):1371–1395.
- IMF (2011) Global financial stability report: durable financial stability–getting there from here. Tech. rep, International Monetary Fund.
Paper not yet in RePEc: Add citation now
- IMF (2013a) World economic outlook, April 2013: Hopes, realities, risks. Tech. rep, International Monetary Fund.
Paper not yet in RePEc: Add citation now
- IMF (2013b) World economic outlook, October 2013: transitions and tensions. Tech. rep, International Monetary Fund.
Paper not yet in RePEc: Add citation now
- IMF (2016a) Fiscal monitor: debt use it wisely. Tech. rep, International Monetary Fund.
Paper not yet in RePEc: Add citation now
- IMF (2016b) World economic outlook report. Tech. rep, International Monetary Fund.
Paper not yet in RePEc: Add citation now
- IMF (2018) Global financial stability report: a decade after the financial crisis–are we safer? Tech. rep, International Monetary Fund.
Paper not yet in RePEc: Add citation now
Jawadi F, Mallick SK, Sousa RM (2016) Fiscal and monetary policies in the brics: a panel var approach. Econ Modell 58:535–542.
Kadilli A (2015) Predictability of stock returns of financial companies and the role of investor sentiment: a multi-country analysis. J Finan Stab 21(C):26–45.
Kennedy M, Palerm A (2014) Emerging market bond spreads: the role of global and domestic factors from 2002 to 2011. J Int Money Finance 43:70–87.
Koepke R (2019) What drives capital flows to emerging markets? A survey of the empirical literature. J Econ Surv 33(2):516–540.
Kohlscheen E, Rungcharoenkitkul P (2015) Kohlscheen E, Rungcharoenkitkul P (2015) Changing financial intermediation: implications for monetary policy transmission. In: What do new forms of finance mean for EM central banks? 83:65–78, Bank for International Settlements.
Lombardi MJ, Zhu F (2018) A shadow policy rate to calibrate us monetary policy at the zero lower bound. Int J Central Banking 56.
Lutkepohl H (2005) New introduction to multiple time series analysis. Springer Science & Business Media.
Milesi-Ferretti GM, Tille C (2011) The great retrenchment: international capital flows during the global financial crisis. Econ Policy 26(66):289–346.
Miyajima K, Mohanty MS, Chan T (2015) Emerging market local currency bonds: diversification and stability. Emerg Markets Rev 22:126–139.
Miyajima K, Mohanty MS, Yetman J (2014) Spillovers of US unconventional monetary policy to Asia: the role of long-term interest rates. BIS Working Papers 478, Bank of International Settlements.
Mizen P, Packer F, Remolona EM, Tsoukas S (2012) Why do firms issue abroad? Lessons from onshore and offshore corporate bond finance in Asian emerging markets. BIS Working Papers 401, Bank of International Settlements.
Mohanty M (2015) What do new forms of finance mean for em central banks?–An overview. In: What do new forms of finance mean for EM central banks? 83:1–8, Bank for International Settlements.
Mohanty MS, Rishabh K (2016) Financial intermediation and monetary policy transmission in EMEs: what has changed post–2008 crisis? BIS Working Papers 546, Bank of International Settlements.
- Obstfeld M (2012a) Does the current account still matter? Am Econ Rev 102(3):1–23.
Paper not yet in RePEc: Add citation now
- Obstfeld M (2012b) Financial flows, financial crises, and global imbalances. J Int Money Finance 31(3):469–480.
Paper not yet in RePEc: Add citation now
- Philip T (2014) The global long-term interest rate, financial risks and policy choices in EMEs. BIS Working Papers 441, Bank of International Settlements.
Paper not yet in RePEc: Add citation now
- Ramos-Francia M, García-Verdú S (2015) Is trouble brewing for EMEs? In: What do new forms of finance mean for EM central banks? 83:243–272. Bank for International Settlements.
Paper not yet in RePEc: Add citation now
Rey H (2015) Dilemma not trilemma: the global financial cycle and monetary policy independence. NBER Working Paper 21162, National Bureau of Economic Research.
Rose AK, Wieladek T (2014) Financial protectionism? First evidence. J Finance 69(5):2127–2149.
Schularick M, Taylor AM (2012) Credit booms gone bust: monetary policy, leverage cycles, and financial crises, 1870–2008. Am Econ Rev 102(2):1029–1061.
Shin HS (2012) Global banking glut and loan risk premium. IMF Econ Rev 60(2):155–192.
- Shin HS (2013) The second phase of global liquidity and its impact on emerging economies. Keynote address at Federal Reserve Bank of San Francisco Asia Economic Policy Conference http://www.frbsf.org/economic-research/events/2013/november/asiaeconomic-policy-conference/program/files/The-Second-Phase-of-Global-Liquidity-and-Its-Impact-on-Emerging-Economies.pdf .
Paper not yet in RePEc: Add citation now
Shin HS, Turner P et al (2015) What does the new face of international financial intermediation mean for emerging market economies? Finan Stab Rev 19:25–36.
- Stock JH, Watson MW (2012) Disentangling the channels of the 2007–2009 recession. NBER Working Papers 18094, National Bureau of Economic Research.
Paper not yet in RePEc: Add citation now
Tran N (2018) Debt threshold for fiscal sustainability assessment in emerging economies. J Policy Model 40(2):375–394.
Uribe M, Yue VZ (2006) Country spreads and emerging countries: who drives whom? J Int Econ 69(1):6–36.
Wu JC, Xia FD (2016) Measuring the macroeconomic impact of monetary policy at the zero lower bound. J Money Credit Bank 48(2–3):253–291.
Yildirim Z (2016) Global financial conditions and asset markets: evidence from fragile emerging economies. Econ Modell 57:208–220.