Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/266797 
Year of Publication: 
2018
Citation: 
[Journal:] e-Finanse: Financial Internet Quarterly [ISSN:] 1734-039X [Volume:] 14 [Issue:] 4 [Publisher:] Sciendo [Place:] Warsaw [Year:] 2018 [Pages:] 67-76
Publisher: 
Sciendo, Warsaw
Abstract: 
The article presents the results of the review of the empirical literature regarding the impact of quantitative easing (QE) on emerging markets (EMs). The subject is of interest to policymakers and researchers due to the increasingly larger role of EMs in the world economy and the large-scale capital flows occurring after 2009. The review is conducted in a systematic manner and takes into consideration different methodological choices, samples and measurement issues. The paper puts the summarized results in the context of transmission channels identified in the literature. There are few distinct methodological approaches present in the literature. While there is a consensus regarding the direction of the impact of QE on EMs, its size and durability have not yet been assessed with sufficient precision. In addition, there are clear gaps in the empirical findings, not least related to relative underrepresentation of the CEE region (in particular, Poland).
Subjects: 
quantitative easing
emerging markets
portfolio balance channel
monetary transmission
spillovers
JEL: 
E52
E58
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article

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