Transcription of Capital Flows and Macroprudential ... - Systemic Risk Centre
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Capital Flows and Macroprudential policies A MultilateralAssessment of Effectiveness and ExternalitiesJohn Beirneaand Christian Friedrichb January 7, 2016 AbstractUsing a sample of up to 75 advanced and emerging economies over the period 1999-2012,we examine the effectiveness of Macroprudential policies (MPPs) in managing cross-borderbank Flows . Conditioning on the structure of the banking sector in the MPP-implementingcountry, we find that higher regulatory quality and a higher credit-to-deposit ratio increasethe effectiveness of MPPs, while a higher cost-to-income ratio has the opposite effect.
Capital Flows and Macroprudential Policies { A Multilateral Assessment of E ectiveness and Externalities John Beirnea and Christian Friedrichb January 7, 2016 Abstract Using a sample of up to 75 advanced and emerging economies over the period 1999-2012,
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