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Spillovers of the United States? Unconventional Monetary Policy to Emerging Asia: The Bank Lending Channel

Xu, Ying; La, Hai


This article assesses the spillover effects of the United States’ unconventional monetary policy (i.e., quantitative easing programs adopted during 2008–2014) on the Asian credit market. Focusing on cross-border bank lending, we employed firm-level loan data with regard to the syndicated loan market and measured the international bank lending channel through changes in the United States dollar-denominated loans extended to Asian borrowers. We found that the growth of dollar credit in Asia...[Show more]

CollectionsANU Research Publications
Date published: 2017
Type: Journal article
Source: Emerging Markets Finance and Trade
DOI: 10.1080/1540496X.2017.1365287


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