| Author (Corporate) | European Investment Bank |
|---|---|
| Series Title | EIB Working Papers |
| Series Details | No.2, July 2016 |
| Publication Date | 06/07/2016 |
| ISSN | 1830-3676 |
| Content Type | Journal | Series | Blog |
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The Economics Department of the European Investment Bank provides economic analysis and studies to support EIB operations and to help define its positioning, strategy and policy. The Economics Department is a team of 25 economists and staff, under the responsibility of the Director Debora Revoltella. EIB Working papers allow guest authors to explore particular topics in depth, often relating to the annual EIB Economics Conference publication. This paper documents recent trends in international financial flows, based on a newly assembled dataset covering 40 advanced and emerging countries. It highlights four stylized facts: first, the “Great Retrenchment” that took place during the crisis has proved very persistent; second, this fall can predominantly be related to advanced economies, especially in Western Europe; third, net flows have fallen substantially relative to the years preceding the crisis; and fourth, profound changes have occurred in the composition of international financial flows in ways which should help to strengthen resilience and deliver genuine cross-border risk-sharing. This paper then turns to possible explanations for and likely implications of these changes, with regard to international financial stability issues. Author: Matthieu Bussière, Banque de France / Julia Schmidt, Banque de France / Natacha Valla, EIB |
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| Source Link | http://www.eib.org/infocentre/publications/all/economics-working-paper-2016-02.htm |
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| Countries / Regions | Europe |
