Bank liquidity creation: A new global dataset for developing and emerging countries (original) (raw)

Benchmarking IFS data with national data sources is not always possible. As highlighted by Jerven (2016), some DECs adopt the IMF reporting standards for their domestic data collections; some other jurisdictions, however, use the IMF definitions and reporting standards only for reporting to the IMF while keeping a different official reporting domestically. That is, from a practical viewpoint, balance sheet banking data from national sources does not allow for crosscountry comparison due to the lack of harmonization. For example in the left-hand panel of Figure S1, we plot banking sector liquidity creation computed using national banks' published banking data for Albania and Chile and benchmark it with our A-BLC measure. The large gap observed in Albania is due to the sample used by the national statistical agency including not only depository institutions but also the central bank and other financial institutions. The negative liquidity creation observed before 2005 is mainly due to the large holding of government bonds by these institutions. In the case of Chile, instead, the central bank collects segmented balance sheet data on depository institutions only 1. However, the degree of segmentation is rather limited, as a number of balance sheet items such as central bank claims