| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14802 |
| DP14802 UNINTENDED CONSEQUENCES OF THE GLOBAL DERIVATIVES MARKET REFORM | |
| Pauline Gandré; Mike Mariathasan; Ouarda Merrouche; Steven Ongena | |
| 发表日期 | 2020-05-24 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We investigate regulatory arbitrage during the G20’s global derivatives market reform. We hand-collect comprehensive data on the staggered reform process and show that its progress is primarily driven by structural time-invariant factors. Following the reform banks shift up to 70 percent of their derivatives activity towards less regulated jurisdictions. This shift is driven by reform items – such as the promotion of central clearing – that are costly, but do not directly benefit them. Subsidiaries in jurisdictions with more regulatory progress shift into riskier portfolios. |
| 主题 | Financial Economics |
| 关键词 | Bank regulation Regulatory arbitrage Otc markets Derivatives Cross-border financial institutions Financial risk |
| URL | https://cepr.org/publications/dp14802 |
| 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/543734 |
| 推荐引用方式 GB/T 7714 | Pauline Gandré,Mike Mariathasan,Ouarda Merrouche,et al. DP14802 UNINTENDED CONSEQUENCES OF THE GLOBAL DERIVATIVES MARKET REFORM. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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