The Global Long-Term Interest Rate, Financial Risks and Policy Choices in EMEs

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Spillovers of U.S. unconventional monetary policy to emerging markets: The role of capital flows (2017, background): “For instance, Shin (2013) and Turner (2014), based on BIS data, indicate that in EMEs non-financial corporations’ international securities borrowing increased from 200 billion USD in late 2008 to 450 billion USD by the beginning of 2013.”
Market Tantrums and Monetary Policy (2014, unknown): “The financial market turbulence in early 2014 associated with emerging market (EM) assets and currencies appears consistent with our analysis, and with the scenarios laid out in Shin (2013) and Turner (2014).”
Global liquidity and cross-border bank flows (2017, result): “These results are in line with many existing findings on US factors of global financial conditions (e.g., McGuire and Tarashev, 2008; Avdjiev et al., 2012; Forbes and Warnock, 2012; Rey, 2013; Turner 2014; Bruno and Shin, 2015a,b; Cerutti, 2015; McCauley et al., 2015; Burger et al., 2015).”