Global imbalance, global liquidity and stabilization of international financial system
| Project/Area Number |
26780186
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Multi-year Fund |
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| Research Field |
Money/ Finance
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| Research Institution | Yamaguchi University |
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Principal Investigator |
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| Project Period (FY) |
2014-04-01 – 2018-03-31
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| Project Status |
Completed (Fiscal Year 2017)
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| Budget Amount *help |
¥2,730,000 (Direct Cost: ¥2,100,000、Indirect Cost: ¥630,000)
Fiscal Year 2017: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2016: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2015: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2014: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
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| Keywords | グローバル流動性 / ネットワーク効果 / 国際銀行ネットワーク / 国際資本移動 / 国際銀行間ネットワーク / Cross Border Bank Flow / Multiplier Effect / Global Factor / Network Effect / グローバルインバランス |
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| Outline of Final Research Achievements |
Correlation of cross-border bank inflows across countries has increased remarkably since the mid-1990s. By applying a spatial econometric model, whether an intrinsic shock has Global push or Local pull factors, we demonstrate that once cross-border bank inflows of a certain country increase, self-propagation effects amplify the cross-border bank inflows of other countries to a considerable degree. We defined this effect as the Banking Network Multiplier (BNM) effect. Results show that most of the BNM distribution is concentrated in a few countries such as the United Kingdom and the United States. A strong core–periphery structure was confirmed. Therefore, a large share of cross-border bank inflows is not determined by the economic fundamentals of the receiving country. To smooth the rapid boom and bust wave trends of cross-border bank inflows, we demonstrate that financial restrictions on core countries are effective.
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Report
(5 results)
Research Products
(13 results)
