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The international transmission of monetary policy : Korea’s experience
- The international transmission of monetary policy
- Kim, Jun Il
- Bank for International Settlements
| Title |
The international transmission of monetary policy
Similar Titles
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|---|---|
| Sub Title | Korea’s experience |
| Material Type | Article |
| Author(English) |
Kim, Jun Il |
| Publisher |
[Basel] : Bank for International Settlements |
| Date | 2014 |
| Journal Title; Vol./Issue | BIS Papers:no. 78 |
| Pages | 14 |
| Subject Country | South Korea(Asia and Pacific) |
| Language | English |
| File Type | Link |
| Original Format | |
| Subject | Economy < Financial Policy Economy < Economic Administration |
| Holding | Bank for International Settlements |
| License |  |
Abstract
Monetary policy shifts in advanced economies are transmitted to emerging market economies (EMEs) through monetary policy responses by EME central banks and changes in cross-border capital flows. The ripple effects, however, depend upon the EMEs’ macroeconomic fundamentals and the amount and composition of the portfolio investment funds that have already flowed into them. Since the 2008 global financial crisis, Korea, like other EMEs, has been influenced, directly and indirectly, by the quantitative easing (QE) and quantitative easing tapering (QET) of major advanced economies. This paper discusses the international transmission effects occurring during the transformation to QE and QET, the related monetary policy responses and the challenges ahead, with a focus mainly on Korea’s experience.
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