International Conference on Financial Cycles, Systemic Risk, Interconnectedness, and Policy Options for Resilience: Overview and Summary of Papers

Publication | March 2017

The theory, practices, and policy implications of financial interconnectedness for systemic risk and financial stability were discussed at a conference held on 8-9 September 2016 in Sydney, Australia.

Jointly organized by the ADB Economic Research and Regional Cooperation Department and the Institute of Global Finance - University of New South Wales, the conference gathered leading academics, central bankers and financial regulators, and international financial organizations and discussed the theory, practices, and policy implications of financial interconnectedness for systemic risk and financial stability. 


  • Conference Program
  • Session 1 Summary of Papers
    • Foreign Investment, Regulatory Arbitrageand the Risk to US Financial Institutions
    • Exchange Rate Dynamics, US Interest Rate and Sovereign Bond Prices in Emerging Markets
    • Foreign Booms and Domestic Busts
  • Session 2 Summary of Papers
    • Coherent Financial Cycles for G7 Countries: Why Extending Credit Can Be an Asset
    • The Changing International Network of Sovereign Debt and Financial Institutions
    • Bad Bad Contagion
    • Push Factors and Capital Flows to Emerging Markets: Why Knowing Your Lender Matters More Than Fundamentals
    • Systemic Bank Panics in Financial Networks
    • Does Increased Noninterest Income Result in Increased Bank Systemic Risk?
    • Divergent Emerging Market Economies’ Responses to Global and Domestic Monetary Policy Shocks
    • Systemic Risk in a Structural Model of Bank Default Linkages
    • Securitization, Connectedness, and Shadow Banking
    • Early Warning Indicators of Systemic Financial Risk in an International Setting
    • International Transmissions of Monetary Shocks: Two-and-a-half Lemma
  • Session 4 Summary of Papers
    • Systemic Risk-taking at Banks: Evidence from the Pricing of Syndicated Loans
    • The Transmission of Real Estate Shocks through Multinational Banks
    • Volatility Contagion across the Equity Markets of Developed and Emerging Market Economies
    • Identifying Contagion in a Banking Network
    • The Value of Bank Capital Buffers in Maintaining Financial System Resilience
    • More Inclusive, More Stable? The Financial Inclusion–Stability Nexus in the Global Financial Crisis
    • Measuring Spillovers between the United States and Emerging Markets
    • Too Big To Fail: Toward Optimal Incentive Regulation
    • Does Credit Market Integration Amplify the Transmission of Real Business Cycle During Crises?
    • Analysis of Banks’ Systemic Risk Contribution and Contagion Determinants throughthe Leave-one-out Approach
    • Dynamic Spillovers between US and BRICS Stock Markets during Financial Crises
    • Emergency Liquidity Facilities, Signaling and Funding Costs

Additional Details

  • Finance sector development
  • TCS178668-2
  • 978-92-9257-759-9 (Print)
  • 978-92-9257-760-5 (e-ISBN)

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