TY  - BOOK
AU  - N'Diaye,Papa M.B.P.
AU  - Chen,Qianying
AU  - Gray,Dale F.
AU  - N'Diaye,Papa M.B.P.
AU  - Oura,Hiroko
AU  - Tamirisa,Natalia T.
TI  - International Transmission of Bank and Corporate Distress
T2  - IMF Working Papers; Working Paper
SN  - 1455200832 :
SN  - 1018-5941
PY  - 2010///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Bank Default
KW  - imf
KW  - Bank Distress
KW  - Bank
KW  - Corporate Finance and Governance: General
KW  - Corporate
KW  - Distress
KW  - Brazil
KW  - China, People's Republic of
KW  - Germany
KW  - Hong Kong Special Administrative Region of China
KW  - United States
N2  - 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
UR  - http://elibrary.imf.org/view/IMF001/10946-9781455200832/10946-9781455200832/10946-9781455200832.xml
UR  - http://www.imfbookstore.org/IMFORG/9781455200832
ER  -