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N'Diaye, Papa M.B.P.

International Transmission of Bank and Corporate Distress Papa M B P N'Diaye. [electronic resource] / Papa M B P N'Diaye. - Washington, D.C. : International Monetary Fund, 2010. - 1 online resource (43 p.) - IMF Working Papers; Working Paper ; No. 10/124 . - IMF Working Papers; Working Paper ; No. 10/124 .

The paper evaluates how increases in banks' and nonfinancial corporates' default risk are transmitted in the global economy, using in a vector autoregression model for 30 advanced and emerging economies for the period from January 1996 to December 2008. The results point to two-way causality between bank and corporate distress and to significant global macroeconomic and financial spillovers from either type of distress when it originates in a systemic economy. Corporate distress in advanced economies has a larger impact on economic growth in emerging economies than bank distress in advanced economies has. In contrast, activity in advanced economies is more vulnerable to bank distress than to corporate distress.

ISBN: 1455200832 : 18.00 USD

ISSN: 1018-5941

Standard No.: 10.5089/9781455200832.001 doi

Subjects--Topical Terms:
Bank Default
Bank Distress
Bank
Corporate Finance and Governance: General
Corporate
Distress

Subjects--Geographic Terms:
Brazil
China, People's Republic of
Germany
Hong Kong Special Administrative Region of China
United States