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The Second Phase of Global Liquidity and Its Impact on Emerging Economies
Global Liquidity Impact Emerging Economies
2014/3/18
The term “global liquidity” is often invoked by emerging market policy makers to denote the
global factor that drives cross-border spillovers in financial conditions and credit growth. The
term i...
Firms as Surrogate Intermediaries: Evidence from Emerging Economies
Surrogate Intermediaries Emerging Economies
2014/3/18
A firm can finance investment either by borrowing or by drawing on cash balances,
so that financial asset and liability changes tend to have opposite signs. In contrast,
fina...