IMF paper highlights risks of strong cross-border banking links
An International Monetary Fund paper published on November 23 shows that advanced economy banks with strong links to emerging markets face significant financial risks during crises.
Phil de Imus, Manju Ismael, Philip Liu, Anna Ter-Martirosyan and Padamja Khandelwal, the paper's authors, look at the retail banking links of four countries – Austria, Belgium, the Netherlands and Spain – to examine their growing presence in emerging markets. The authors say that while the expansion may have brought
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