银行挤兑与媒体自由:你不知道的事不会伤害你?

IF 6.1 2区 经济学 Q1 BUSINESS, FINANCE
Maria Semenova , Vladimir Sokolov , Alexander Benov
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引用次数: 0

摘要

本文探讨了银行危机期间媒体自由限制对零售储户行为的影响。非专业的零售储户由于无法充分获取有关危机中银行业脆弱性和宏观经济状况的重要信息,因此受到的影响尤为严重。利用 2004 年至 2019 年 85 个国家的数据,我们发现在危机期间,较高的媒体限制会导致家庭存款提取率上升。如果媒体限制阻碍了储户准确评估银行业的风险敞口,那么在银行业危机带来的不确定时期,储户就更有可能做出恐慌性反应,从而可能引发银行挤兑。此外,我们的研究结果表明,在银行业危机期间,较低的银行业风险可以减轻媒体限制对零售存款增长的负面影响,尤其是在中等收入的经合组织和非经合组织国家、制度环境较强的国家以及金融知识较高的国家。作为一项政策建议,促进金融知识普及有助于减少信息不对称,防止恐慌性撤资,即使是在有重大媒体限制的环境中也是如此。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Bank runs and media freedom: What you don’t know won’t hurt you?

This paper examines the influence of media freedom restrictions on retail depositor behavior during banking crises. Non-professional, retail depositors are particularly affected due to insufficient access to vital information about the banking industry's vulnerability and broad macroeconomic conditions amidst the crisis. Using data from 85 countries from 2004 to 2019, we found that during crises, higher media restrictions lead to an increase in the rate of household deposit withdrawals. If media restrictions hinder depositors from accurately assessing the banking sector’s exposure, there is a higher likelihood of panic-based response in uncertain times brought on by the banking crisis, potentially triggering bank runs. Furthermore, our results reveal that lower banking sector risk can mitigate the negative effect of media restrictions on retail deposit growth during a banking crisis, especially in middle-income OECD and non-OECD countries, countries with stronger institutional environments, and countries with higher financial literacy. As a policy suggestion, promoting financial literacy could help reduce information asymmetry and prevent panic withdrawals, even in environments with significant media restrictions.

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来源期刊
CiteScore
7.70
自引率
9.30%
发文量
78
审稿时长
34 days
期刊介绍: The Journal of Financial Stability provides an international forum for rigorous theoretical and empirical macro and micro economic and financial analysis of the causes, management, resolution and preventions of financial crises, including banking, securities market, payments and currency crises. The primary focus is on applied research that would be useful in affecting public policy with respect to financial stability. Thus, the Journal seeks to promote interaction among researchers, policy-makers and practitioners to identify potential risks to financial stability and develop means for preventing, mitigating or managing these risks both within and across countries.
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