| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10296 |
| DP10296 Drivers of Structural Change in Cross-Border Banking Since the Global Financial Crisis | |
| Marcel Fratzscher | |
| 发表日期 | 2014-12-14 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | The paper analyzes the effects of changes to regulatory policy and to monetary policy on cross-border bank lending since the global financial crisis. Cross-border bank lending has decreased, and the home bias in the credit portfolio of banks has risen sharply, especially among banks in the euro area. Our results suggest that expansionary monetary policy in the source countries ? as measured by the change in reserves held at central banks - has encouraged cross-border lending, both in euro area and non-euro area countries. Regarding regulatory policy, increases in financial supervisory power or independence of the supervisory authorities have encouraged credit outflows from source countries. The findings thus underline the importance of regulatory arbitrage as a driver of cross-border bank flows since the global financial crisis. However, in the euro area, arbitrage in capital stringency was linked to lower cross-border lending since the crisis. |
| 主题 | International Macroeconomics |
| 关键词 | Cross-border bank lending Financial integration Regulation Arbitrage monetary policy Home bias |
| URL | https://cepr.org/publications/dp10296 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539128 |
| 推荐引用方式 GB/T 7714 | Marcel Fratzscher. DP10296 Drivers of Structural Change in Cross-Border Banking Since the Global Financial Crisis. 2014. |
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