Capital inflows, sovereign debt and bank lending: Micro-evidence from an emerging market
This paper uses a natural experiment to show that government access to foreign credit increases private access to credit. I identify a sudden, and unanticipated increase in capital inflows to the sovereign debt market in Colombia, due to a rebalancing in a government bond index by J.P. Morgan. I fin...
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| Format: | Article |
| Language: | English |
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Oxford University Press
2018
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| Online Access: | View Fulltext in Publisher |