Baskaya, Yusuf Soner; di Giovanni, Julian; Kalemli-Özcan, Şebnem; Ulu, Mehmet Fatih
(2017-02-01)
Most capital inflows are intermediated by domestic banks. We use transaction-level data on bank credit to estimate the causal impact of capital infl
ows on lending. The key mechanism is a failure of UIP, where capital ...