NDLI: International Bank Flows to Emerging Markets: Influence of Sovereign Credit Ratings and Their Regional Spillover Effects

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International Bank Flows to Emerging Markets: Influence of Sovereign Credit Ratings and Their Regional Spillover Effects

Content Provider	Semantic Scholar
Author	Kim, Suk-Joong Wu, Eliza
Copyright Year	2011
Abstract	We examine whether changes in sovereign credit ratings assessments provided by rating agencies help to determine international bank flows to emerging countries. We focus on the quarterly banking flows of G7 countries to a sample of 55 emerging market borrowers for the period 1995-2008. We find strong evidence indicating that sovereign credit rating revisions have significantly positive influences on international bank flows from developed markets even after extensively controlling for other determinants. In addition, we find strong regional rating spillover effects. In general, ratings improvements in one emerging market region reduces bank flows to the other regions. However, there is evidence of positive ratings spillover effects from Asia Pacific to Eastern Europe. Our findings have important implications for financial institutions management with renewed efforts to strengthen the international banking system.
Starting Page	331
Ending Page	364
Page Count	34
File Format	PDF HTM / HTML
DOI	10.1111/j.1475-6803.2011.01293.x
Volume Number	34
Alternate Webpage(s)	https://opus.lib.uts.edu.au/bitstream/10453/17256/1/2010001377.pdf
Alternate Webpage(s)	https://doi.org/10.1111/j.1475-6803.2011.01293.x
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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