Covid led to shift in cross-border payment flows – Brazilian study
Pandemic resulted in changes across sectors, instruments and types of economy
The Covid-19 pandemic caused a migration of cross-border banking flows from emerging to advanced economies, find researchers with the Central Bank of Brazil.
The authors – Bruno Pires Tiberto and Francisco Fernando Viana Ferreira – say that when internationally active banks become significantly more risk-averse, they reallocate their resources to safer markets.
The working paper, published in August, states that this risk aversion materialised across different economic sectors. It caused capital
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