The shock to EM funding in 2020 was grievous. Unlike in 2008 it did not provoke a financial crisis. One

The shock to EM funding in 2020 was grievous. Unlike in 2008 it did not provoke a financial crisis. One of key reasons is macrofinancial reduction in foreign exposure (both on funding and lending side) captured by Mathias Lahnsteiner of @oenb
ideas.repec.org/a/onb/oenbfi/y… https://t.co/vDRb4p6LNY

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