<abstract xmlns="http://www.w3.org/1999/xhtml"><p>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).</p></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).

The Impact of Quantitative Easing on Emerging Markets – Literature Review

Financial Internet Quarterly

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"The Impact of Quantitative Easing on Emerging Markets \u2013 Literature Review"}

The article presents the results of the review of the empirical literature regarding the impact of quantitative easing (QE) on emerging markets (EMs). The...

The Impact of Quantitative Easing on Emerging Markets – Literature Review

Pubblicato online: 15 apr 2019

Pagine: 67 - 76

Ricevuto: 29 ago 2018

Accettato: 14 dic 2018

DOI: https://doi.org/10.2478/fiqf-2018-0028

Parole chiave
quantitative easing, emerging markets, portfolio balance channel, monetary transmission, spillovers

© 2018 Piotr Bartkiewicz, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The Impact of Quantitative Easing on Emerging Markets – Literature Review

Pubblicato online: 15 apr 2019

Pagine: 67 - 76

Ricevuto: 29 ago 2018

Accettato: 14 dic 2018

DOI: https://doi.org/10.2478/fiqf-2018-0028

Parole chiavequantitative easing, emerging markets, portfolio balance channel, monetary transmission, spillovers

© 2018 Piotr Bartkiewicz, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Parole chiave
quantitative easing, emerging markets, portfolio balance channel, monetary transmission, spillovers