Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.11851/8586
Title: Determinants of Non-Core Liabilities of Banks in Emerging Markets in the Post-Crisis Era
Other Titles: Küresel Finansal Kriz Sonrası Dönemde Gelişmekte Olan Ülkelerdeki Bankaların Çekirdek Olmayan Yükümlülüklerinin Belirleyicileri
Authors: Akdoğan, Kurmaş
Ekşi, Neslihan Kaya
Ekşi, Ozan
Keywords: Capital flows
Financial stability
Non-core liabilities
banking
capital flow
financial crisis
financial policy
liability
vector autoregression
Issue Date: 2021
Publisher: Bogazici Universitesi
Source: Akdoğan, K., Ekşi, N. K., & Ekşi, O. (2021). Determinants of Non-Core Liabilities of Banks in Emerging Markets in the Post-Crisis Era. Bogazici Journal: Review of Social, Economic & Administrative Studies, 35(1).
Abstract: The level of the non-core liabilities of the aggregate banking sector serves an indicator of systemic risk in an interconnected banking system. In this paper, we disentangle the non-core liabilities of the banking system of four selected emerging markets into demand-pull and supply-push components from 2004 to 2015. Our results from structural vector autoregressions imply that, in the wake of the crisis, worsening demand conditions in the recipient countries were the main determinants of the decline in cross border flows. However, once the unconventional policy measures by the advanced economies were put into effect, the proliferation of global liquidity worked as a push factor for cross border flows. Moreover, after the FED’s tapering signal in mid-2013, country-specific macroprudential tools in emerging economies determined the direction of capital flows to these economies. Our results provide valuable information regarding the appropriate design of countercyclical macroprudential policies. © 2021 Bogazici Universitesi. All rights reserved.
URI: https://search.trdizin.gov.tr/yayin/detay/532502
https://doi.org/10.21773/BOUN.35.1.4
https://hdl.handle.net/20.500.11851/8586
ISSN: 1300-9583
Appears in Collections:İktisat Bölümü / Department of Economics
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
TR Dizin İndeksli Yayınlar / TR Dizin Indexed Publications Collection

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