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Why Did the US Federal Reserve Unprecedentedly Offer Swap Lines to Emerging Market Economies during the Global Financial Crisis? Can We Expect Them Again in the Future?
https://doi.org/10.24545/00001075
https://doi.org/10.24545/0000107596a7d28d-aa3e-4fdd-95f8-921730d59931
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
DP11-18.pdf (207.3 kB)
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| Item type | ディスカッションペーパー / Discussion Paper(1) | |||||||
|---|---|---|---|---|---|---|---|---|
| 公開日 | 2012-03-02 | |||||||
| タイトル | ||||||||
| タイトル | Why Did the US Federal Reserve Unprecedentedly Offer Swap Lines to Emerging Market Economies during the Global Financial Crisis? Can We Expect Them Again in the Future? | |||||||
| 言語 | en | |||||||
| 言語 | ||||||||
| 言語 | eng | |||||||
| キーワード | ||||||||
| 主題Scheme | Other | |||||||
| 主題 | swap line | |||||||
| キーワード | ||||||||
| 主題Scheme | Other | |||||||
| 主題 | global financial safety net | |||||||
| キーワード | ||||||||
| 主題Scheme | Other | |||||||
| 主題 | international lender of last resort | |||||||
| 資源タイプ | ||||||||
| 資源タイプ | technical report | |||||||
| ID登録 | ||||||||
| ID登録 (DOI) | 10.24545/00001075 | |||||||
| ID登録タイプ | JaLC | |||||||
| 著者 |
CHEY, Hyoung-kyu
× CHEY, Hyoung-kyu
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| 著者所属 | ||||||||
| 値 | 政策研究大学院大学 / National Graduate Institute for Policy Studies | |||||||
| 分野 | ||||||||
| 内容記述タイプ | Other | |||||||
| 内容記述 | 経済学 / Economics | |||||||
| 抄録 | ||||||||
| 内容記述タイプ | Abstract | |||||||
| 内容記述 | This paper provides a political economy analysis of why the US Federal Reserve unprecedentedly established temporary reciprocal swap lines with a select four emerging market economies during the global financial crisis of 2008-09, thus acting as global lender of last resort for US dollars. It argues that the swap lines reflected the great US need to reinforce its ties with major emerging market economies at that time, when a new global economic governance system had emerged—led by the Group of Twenty, which encompassed these economies among its members. Yet it also stresses the uniqueness of the international situation at that time, implying a low likelihood of the Federal Reserve providing swap lines for emerging market economies again in future systemic crises, and the need therefore to further strengthen the global financial safety net. | |||||||
| 発行年 | ||||||||
| 値 | 2012-01 | |||||||
| 書誌情報 |
en : GRIPS Discussion Papers Report No. DP11-18, 発行日 2012-03-02 |
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| 出版者 | ||||||||
| 出版者 | GRIPS Policy Research Center | |||||||
| 言語 | en | |||||||
| 関連サイト | ||||||||
| 関連タイプ | isIdenticalTo | |||||||
| 識別子タイプ | URI | |||||||
| 関連識別子 | https://ideas.repec.org/p/ngi/dpaper/11-18.html | |||||||
| 関連名称 | https://ideas.repec.org/p/ngi/dpaper/11-18.html | |||||||
| 著者情報 | ||||||||
| 内容記述タイプ | Other | |||||||
| 内容記述 | https://www.grips.ac.jp/list/jp/facultyinfo/chey_hyoung-kyu/ | |||||||
| 著者版フラグ | ||||||||
| 出版タイプ | AM | |||||||
| 出版タイプResource | http://purl.org/coar/version/c_ab4af688f83e57aa | |||||||
