Unconventional monetary policy and capital flows

Kiendrebeogo, Youssouf

doi:10.1016/j.econmod.2016.01.008

Cited by 37 publications

(24 citation statements)

References 17 publications

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“…To buffer such impact, resilience in the economic fundamentals in Malaysia has to be strengthened in order to sustain growth and stability within the economy. Kiendrebeogo (2016) proposes that more strength in macroeconomic position is preferable for countries to mitigate from the international monetary spill-over effects from the U.S.…”

Section: Resultsmentioning

confidence: 99%

Determinants Of Financial Condition In Malaysia

Pang¹,

Lee²

2020

European Proceedings of Social and Behavioural Sciences

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Section: Resultsmentioning

confidence: 99%

Determinants Of Financial Condition In Malaysia

Pang¹,

Lee²

2020

European Proceedings of Social and Behavioural Sciences

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“…Furthermore, QE effectiveness could be influenced according to the time frame, purchase pace, and the targeted security classes. When it comes to Kiendrebeogo (2016), he supports that US QE leads to increased net portfolio flows to developing countries, and to non-conventional monetary policy advanced economies to a lesser extent.…”

Section: Literature Review On Qe Econometric Studiesmentioning

confidence: 99%

Helicopter Money: The New Form of Monetary Easing in the Eurozone?

Kyriazis¹,

Economou²

2017

IJEF

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Although unconventional measures by the ECB have been very extensive so as to fortify the Eurozone"s financial system the question of whether more drastic measures are necessary, is at the forefront of newly aroused academic debate. This paper"s main effort is to conceptualize helicopter drops in the Eurozone before hindsight in order to shed some light on how feasible are more drastic measures for the Eurozone and how they could further attenuate moral hazard problems. An early understanding of overt money financing will help in better driving monetary policy and emphasize whether the benefits of more and free money printing could bring about a heal for the wreckages of the EU membership status.

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“…Similarly, by employing a global vector error correction model (VECM), Chen et al (2016) provide evidence that emerging economies have been recipients of greater impacts from unconventional US monetary policies than developed economies. Kiendrebeogo (2016) has also shown that the US Fed has exerted greater effects in terms of net portfolio flows on emerging economies than on developed economies. Furthermore, Brana and Prat (2016) demonstrated that excess capital flows affect stock prices in emerging markets in a positive direction.…”

Section: Literature Reviewmentioning

confidence: 99%

“…This paper fills this gap in the relevant literature by focusing on the causality impacts of the US Fed's balance sheet enlargement and restructuring on six African and nine Middle Eastern economies by employing not only conventional, but also innovative Granger causality specifications. The majority of academic papers that have examined the spillover effects of the Fed's unconventional practices on emerging markets (Park et al 2014;Bouraoui 2015;Tillmann 2016;Kiendrebeogo 2016) have focused on Asian economies. The motivation of this study is to examine the spillover effects of US QE tapering on the economies of countries that have not yet been adequately investigated.…”

Section: Introductionmentioning

confidence: 99%

Spillover Effects of US QE and QE Tapering on African and Middle Eastern Stock Indices

Papadamou

Kyriazis

2019

JRFM

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In this paper, we study spillover effects on the stock markets of six African and nine Middle Eastern emerging economies before, during, and after the implementation of unconventional monetary policies by the United States Federal Reserve (US Fed). Weekly data covering the pre-quantitative easing (pre-QE) period, the three phases of QE, and the QE-tapering period were adopted. The methodologies employed here for detecting dual causality were as follows: classical, dynamic, and time-varying Granger causality tests. The results indicate that the Fed’s non-conventional actions weakened the Fed’s monetary policies’ impact on the stock indices of these emerging countries. Interestingly, there is evidence that two African and three Middle Eastern countries—all different according to each of the specifications used in the methodology—were affected by the tapering of unconventional US monetary practices.

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Unconventional monetary policy and capital flows

Cited by 37 publications

References 17 publications

Determinants Of Financial Condition In Malaysia

Determinants Of Financial Condition In Malaysia

Helicopter Money: The New Form of Monetary Easing in the Eurozone?

Spillover Effects of US QE and QE Tapering on African and Middle Eastern Stock Indices

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