Bank recycling of petro dollars to emerging market economies during the current oil price boom /

Bank recycling of petro dollars to emerging market economies during the current oil price boom /

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Bibliographic Details
Author / Creator:	Wiegand, Johannes, author.
Imprint:	Washington, D.C. : International Monetary Fund, Research Dept., 2008. ©2008
Description:	1 online resource (26 pages) : illustrations
Language:	English
Series:	IMF working paper ; WP/08/180 IMF working paper ; WP/08/180.
Subject:	Capital movements -- Econometric models. Banks and banking -- Econometric models. Petroleum industry and trade -- Economic aspects -- Econometric models. Banks and banking -- Econometric models. Capital movements -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12499634

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. Research Department.
ISBN:	9781451870381 1451870388
Notes:	"July 2008." Includes bibliographical references (pages 21-22). Print version record.
Summary:	High oil prices have once again led to large external surpluses of oil exporting countries, similar to the 1970s and 1980s. This paper analyzes the extent to which (i) oil exporters use bank deposits to invest these surpluses, and (ii) banks are lending on these funds to emerging market economies. Bank recycling of petro dollars to emerging market economies is found to be almost as important as in the 1970s and 1980s, even though during the current boom, petro dollar bank flows tend to originate in countries like Russia, Libya, or Nigeria rather than in the Middle East. As one consequence, a fall in oil prices could yet again disrupt financing flows to emerging economies. Especially at risk could be countries that rely heavily on bank loans to finance external deficits, many of them in Emerging Europe.
Other form:	Print version: Wiegand, Johannes. Bank recycling of petro dollars to emerging market economies during the current oil price boom. Washington, D.C. : International Monetary Fund, Research Dept., 2008

Description
Summary:	High oil prices have once again led to large external surpluses of oil exporting countries, similar to the 1970s and 1980s. This paper analyzes the extent to which (i) oil exporters use bank deposits to invest these surpluses, and (ii) banks are lending on these funds to emerging market economies. Bank recycling of petro dollars to emerging market economies is found to be almost as important as in the 1970s and 1980s, even though during the current boom, petro dollar bank flows tend to originate in countries like Russia, Libya, or Nigeria rather than in the Middle East. As one consequence, a fall in oil prices could yet again disrupt financing flows to emerging economies. Especially at risk could be countries that rely heavily on bank loans to finance external deficits, many of them in Emerging Europe.
Item Description:	"July 2008."
Physical Description:	1 online resource (26 pages) : illustrations
Bibliography:	Includes bibliographical references (pages 21-22).
ISBN:	9781451870381 1451870388