Banking sector openness affects policy transmission, BoK paper finds
Bank of Korea study focuses on smaller open economies
Bank globalisation can hamper domestic monetary policy transmission and amplify international monetary spillovers, a Bank of Korea working paper finds.
Focusing on the role of banks in small open economies, author Inhwan So studies how the banking sector’s openness to global markets impacts the transmission of local and international monetary shocks. So’s study finds the actual effect of policy transmission does not always match the central bank’s intention, especially in small open economies.
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