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Revue d'économie du développement
De Boeck Université

I.S.B.N.2804159658
112 pages

p. 47 à 67
doi: 10.3917/edd.215.0047

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Vol. 21 2007/5

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Basel II and its Implications for Foreign Banks Financing Emerging Countries

Jean-Marc Figuet Delphine Lahet

Résumé de l'article

International bank credit is a major way for emerging countries to finance development and growth. The aim of this article is to study the impact of the Basel capital requirements in developed countries on the nature of the bank foreign claims towards emerging debtors. We find evidence that Basel I makes developed countries reduce the credit supply but to increase short term claims in foreign currencies. The Asian crisis is the proof that the latter are a very destabilising source of funds. Then, we argue, with a simulation of the IRB models, that the foreign bank borrowing conditions for emerging debtors will not be improved by Basel II.
JEL Classification: F33 ; F34 ; G28Keywords : prudential regulation, IRB, emerging countries, bank financing, short term, push and pull factors.

Plan de l'article

• Introduction

• The responsibility of the Cooke ratio in the current allocation of international bank loans to emerging countries

— Massive but volatile bank financing

— The responsibility of the Cooke ratio in the short-term bank financing of emerging countries up until 2004-05

• The Basel II agreements and the financing of emerging countries

— The standard approach

— The internal rating “advanced” approach (IRB)

• Conclusion

• References

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