| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w8322 |
| 来源ID | Working Paper 8322 |
| Domestic Bank Regulation and Financial Crises: Theory and Empirical Evidence from East Asia | |
| Robert Dekle; Kenneth M. Kletzer | |
| 发表日期 | 2001-06-01 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | A model of the domestic financial intermediation of foreign capital inflows based on agency costs is developed for studying financial crises in emerging markets. In equilibrium for the model economy, the banking system becomes progressively more fragile under imperfect prudential regulation and public sector loan guarantees until a crisis occurs with an expected reversal of capital flows. The crisis in this model evolves endogenously as the banking system becomes increasingly vulnerable through the renegotiation of firm debts. Firm revenues are subject to idiosyncratic firm-specific technology shocks, but there are no aggregate shocks. The model generates dynamic relationships between foreign capital inflows, domestic investment, firm debt and the value of firm and bank equity in an endogenous growth model. Prior to crisis, foreign capital inflows and bank debt rise relative to investment and domestic production. The aggregate portfolio of the banking sector deteriorates and the total value of bank equities declines in proportion to that for goods producers progressively. The model's assumptions and implications for the behavior of the economy before and after crisis are compared to the experience of five East Asian countries. The case studies compare three or near-crisis countries non-crisis economies, Taiwan and Singapore, and lend support to the model. |
| 主题 | International Economics ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w8322 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/565920 |
| 推荐引用方式 GB/T 7714 | Robert Dekle,Kenneth M. Kletzer. Domestic Bank Regulation and Financial Crises: Theory and Empirical Evidence from East Asia. 2001. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w8322.pdf（502KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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