Assessing Macroprudential Policies: Case of South Korea

30 Pages Posted: 31 Dec 2013

See all articles by Valentina Bruno

Valentina Bruno

American University - Department of Finance and Real Estate

Hyun Song Shin

Bank for International Settlements (BIS)

Date Written: January 2014

Abstract

In this paper, we develop methods for assessing the sensitivity of capital flows to global financial conditions. We use these methods to assess the impact of macroprudential policies introduced by South Korea in 2010. Relative to a comparison group of countries, we find that the sensitivity of capital flows into South Korea to global conditions decreased in the period following the introduction of macroprudential policies.

Keywords: Capital flows, credit booms, macroprudential policy

JEL Classification: F32, F33, F34

Suggested Citation

Bruno, Valentina Giulia and Shin, Hyun Song, Assessing Macroprudential Policies: Case of South Korea (January 2014). The Scandinavian Journal of Economics, Vol. 116, Issue 1, pp. 128-157, 2014. Available at SSRN: https://ssrn.com/abstract=2373310 or http://dx.doi.org/10.1111/sjoe.12037

Valentina Giulia Bruno (Contact Author)

American University - Department of Finance and Real Estate ( email )

Kogod School of Business
4400 Massachusetts Ave., N.W.
Washington, DC 20016-8044
United States

HOME PAGE: http://www.american.edu/kogod/faculty/bruno.cfm

Hyun Song Shin

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

HOME PAGE: http://www.bis.org/author/hyun_song_shin.htm

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