[Zurück]

S. Banabak:
"US Quantitative Easing and Financialization Dynamics in Latin America";
Betreuer/in(nen): S. Humer, P. Cetkovic; Department Volkswirtschaft, 2018.

I argue that the Federal Reserves quantitative easing policies in the United States spurred financialization processes in at least some Latin American economies. After identifying useful financialization indicators from the regulation literature, a SVAR model withblock exogenous structure and stochastic volatility is set up. The models parameters are estimated using Bayesian methods and the structural shocks identified by Cholesky decomposition. I finally simulate a expansionary balance sheet shock in the US economyblock and trace the impulse responses of the financialization indicators of the respective Latin American economies. I find significant positive effects on selected indicatorsfor Brazil and Colombia while observing no significant and lasting effect on Chileanindicators

Financialization, Quantitative Easing, Vectorautoregression, Latin America