跨境银行流动与系统性风险

IF 5.6 2区经济学 Q1 BUSINESS, FINANCE

Review of Finance Pub Date : 2023-01-06 DOI:10.1093/rof/rfad001

G Andrew Karolyi, John Sedunov, Alvaro G Taboada

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引用次数: 1

摘要

摘要我们发现，跨境银行流动的增加与目标国家银行体系系统性风险的降低有关。对于那些来自监管力度更强的来源国而非目标国的资金，系统性风险的降低更为显著。这种与监管套利相关的跨境银行流动也与目标银行业盈利能力、资产质量和效率的提高有关。我们评估了影响跨境银行流动的几种替代渠道，但将这些流动的证据解释为与良性监管套利形式基本一致。

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Cross-Border Bank Flows and Systemic Risk

Abstract We find that heightened cross-border bank flows are associated with lower systemic risk in a target country’s banking system. The reductions in systemic risk are stronger for flows coming from source countries with stronger regulatory oversight than the target country. Such cross-border bank flows linked to regulatory arbitrage are also associated with improvements in target banking sector profitability, asset quality, and efficiency. We assess several alternative channels of influence for cross-border bank flows but interpret the evidence on these flows as mostly consistent with a benign form of regulatory arbitrage.

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来源期刊

Review of Finance Multiple-

CiteScore

7.80

自引率

2.30%

发文量

期刊介绍： The Review of Finance, the official journal of the European Finance Association, aims at a wide circulation and visibility in the finance profession. The journal publishes high-quality papers in all areas of financial economics, both established and newly developing fields: • •Asset pricing •Corporate finance •Banking and market microstructure •Law and finance •Behavioral finance •Experimental finance Review of Finance occasionally publishes special issues on timely topics, including selected papers presented at the meetings of the European Finance Association or at other selected conferences in the field.