宏观审慎监管与系统性风险:国家一级治理指标的作用

IF 1.3 Q3 BUSINESS, FINANCE
Muhammad Suhail Rizwan, Anum Qureshi, Irfan Ullah Sahibzada
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引用次数: 0

摘要

本文通过实证研究,探讨了国家层面的治理指标(CGIs)在宏观审慎政策工具(MPI)与系统性风险之间关系中的调节作用。2000-2017 年间 68 个国家的研究结果表明,腐败控制、政府效率、监管质量和法治等方面的治理指标在宏观审慎政策工具与系统性风险的关系中起着负向调节作用。在这些 CGI 方面得分高(低)的国家会从 MPI 中获得稳定性收益(不稳定性成本)。这些研究结果表明,仅仅实施宏观审慎监管可能无法实现系统稳定的预期功能。总体而言,一个国家治理生态系统的制度发展是必要的;因此,需要该国所有利益相关者的协调努力。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Macro-prudential regulations and systemic risk: the role of country-level governance indicators

This paper empirically examines the moderating role of country-level governance indicators (CGIs) in the relationship between macro-prudential policy instruments (MPI) and systemic risk. Results from 68 countries, during the period 2000–2017, show that CGIs in terms of corruption controls, government effectiveness, regulatory quality, and rule of law play a negative moderating role in the MPI-systemic risk nexus. Countries scoring high (low) on these CGIs experience stability benefits (instability costs) from MPIs. These findings suggest that the mere implementation of macro-prudential regulations may not perform the intended function of systemic stability. Overall, institutional development in a country’s governance ecosystem is necessary; hence, a coordinated effort is required from all the stakeholders of the country.

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来源期刊
CiteScore
3.70
自引率
6.20%
发文量
21
期刊介绍: Under the guidance of its highly respected Editors and an eminent and truly international Editorial Board?Journal of Banking Regulation?has established itself as one of the leading sources of authoritative and detailed information on all aspects of law and regulation affecting banking institutions.Journal of Banking Regulation?publishes in each quarterly issue detailed briefings analyses and updates which are of direct relevance to practitioners working in the field while meeting the highest intellectual standards.Journal of Banking Regulation?publishes the latest thinking and best practice on:Basel I II and IIIModels for banking supervisionInternational accounting standardsDeposit protectionEnforcement decisions in banking regulation and supervisionCross-border competition in banking servicesCorporate governance in banksHarmonisation in banking marketsSupervising credit riskAnti-money laundering legislation and regulationsMonetary integrationRisk capital and capital adequacySystemic risk in banking operationsCross-border regulationCross-border bank insolvencyModels for banking riskEssential reading for:central bankersbanking supervisorsfinancial regulatorsbankerscompliance officersheads of risk managementpolicy makersbank associationslawyers specialising in banking lawaccountantsinternal and external bank auditorsacademics and researchers
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