02021cas a2200241 a 4500 AALejournalIMF006161 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451874105 1018-5941 BD-DhAAL BD-DhAAL Yehoue, Etienne. Emerging Economy Responses to the Global Financial Crisis of 2007-09 : An Empirical Analysis of the Liquidity Easing Measures / Etienne Yehoue. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (34 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper draws on a unique data set on the nontraditional systemic liquidity easing measures recently undertaken by many emerging market economies. It offers an empirical analysis of the key determinants affecting the decision to undertake these measures over the period September 2008-March 2009. The paper finds that economy size, access to international credit markets, CDS spreads, currency depreciation, and current account balances are among the key factors influencing the adoption of these measures. It provides a rationale for the differences in central bank policy responses, which reflect differences in economic structures rather than conflicting views on fundamental principles. The paper also provides a preliminary assessment of the effectiveness of these measures and points out that despite their positive impacts, they have not fully shielded the real economy from the recent financial meltdown. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2009/265 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/265/001.2009.issue-265-en.xml IMF e-Library