US Credit Spillovers to Small Open Economies: A Proxy-VAR Approach

Document Type

Article

Publication Date

6-2025

Department 1

Economics

Abstract

This paper examines the spillovers of US credit supply to small open economies by focusing on three Asian economies, Korea, Singapore, and Taiwan, from 1999 to 2019.We find that output in Asian economies increases in the short run but decreases in the long run in response to a positive credit supply shock.

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