国际清算银行-跨境银行贷款货币选择的决定因素（英）-2024.5-21页

BISWorkingPapersNo1184Determinantsofcurrencychoiceincross-borderbankloansbyLorenzEmter,PeterMcQuade,Swapan-KumarPradhanandMartinSchmitzMonetaryandEconomicDepartmentMay2024JELclassification:F31,F33,F34,F36,G21.Keywords:dominantcurrencyparadigm,currencydenomination,cross-borderbanking,gravity.BISWorkingPapersarewrittenbymembersoftheMonetaryandEconomicDepartmentoftheBankforInternationalSettlements,andfromtimetotimebyothereconomists,andarepublishedbytheBank.Thepapersareonsubjectsoftopicalinterestandaretechnicalincharacter.TheviewsexpressedinthemarethoseoftheirauthorsandnotnecessarilytheviewsoftheBIS.ThispublicationisavailableontheBISwebsite(www.bis.org).©BankforInternationalSettlements2024.Allrightsreserved.Briefexcerptsmaybereproducedortranslatedprovidedthesourceisstated.ISSN1020-0959(print)ISSN1682-7678(online)Determinantsofcurrencychoiceincross-borderbankloans∗LorenzEmter1,PeterMcQuade1,Swapan-KumarPradhan2,andMartinSchmitz11EuropeanCentralBank2BankforInternationalSettlementsApril22,2024AbstractThispaperprovidesinsightsintothedeterminantsofcurrencychoiceincross-borderbanklending,suchasbilateraldistance,financialandtradelinkagestoissuercountriesofmajorcurrencies,andinvoicingcurrencypatterns.Cross-borderbanklendinginUSdollars,andparticularlyineuro,ishighlyconcentratedinasmallnumberofcountries.TheUKiscentralint...