Xu, Ying; La, Hai Anh
This paper studies the recent 2007-2009 Global Financial Crisis (GFC) and its transmission through bank lending to emerging Asia economies. It highlights two channels of shock transmission identified in the literature: bank ownership and liquidity. We employ a unique dataset on new loan issuance to Asian borrowers and apply a recently developed method (Khwaja and Mian, 2008. Am. Econ. Rev. 98, 1413-1442) to address the identification problem in examining bank lending and shock transmission. We...[Show more]
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