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KUČEROVÁ, Z. POMĚNKOVÁ, J.
Originální název
The Activity of the Banking and Shadow Banking Sector vs. Lending Standards in Selected Euro Area Countries: A Wavelet Approach
Typ
článek ve sborníku ve WoS nebo Scopus
Jazyk
angličtina
Originální abstrakt
Shadow banking activities can be associated with the potential financial instability because these activities are realised outside the regulated banking sector. The aim of the paper is to assess the relationship between the banking and shadow banking activities and lending standards imposed by banking institutions in nine Euro Area countries using a method of regression and correlation analysis and a wavelet approach. We use quarterly data over the period 2003-2013. When measuring the shadow banking activity at national level, the shadow banking activities are most extensive in Austria, Belgium, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. We conclude that banking institutions originated fewer loans in reaction to tighter lending standards (imposed by these banking insti-tutions on their loans). However, the expected positive impact of tighter lending standards on loans provided by shadow banking institutions is not confirmed. We can also admit flexible reactions of OFIs to a current economic situation during the analyses period while the behaviour of MFIs followed a long-term strategy, i.e. banks did not react to short-term objectives as frequently as non-banks. In this con-text, we can conclude that banks meet their stabilising role in the economy while non-banks try to fill up gaps in the financial markets.
Klíčová slova
wavelet co-spectrum, comovement, shadow banking sector, banking sector, market-based system, bank-based system
Autoři
KUČEROVÁ, Z.; POMĚNKOVÁ, J.
Rok RIV
2015
Vydáno
9. 9. 2015
Nakladatel
University of West Bohemia, Plzeň
Místo
Plzeň
ISBN
978-80-261-0539-8
Kniha
33rd International Conference Mathematical Methods in Economics MME 2015 - Conference Proceedings
Strany od
425
Strany do
430
Strany počet
6
BibTex
@inproceedings{BUT115998, author="Zuzana {Kučerová} and Jitka {Dluhá}", title="The Activity of the Banking and Shadow Banking Sector vs. Lending Standards in Selected Euro Area Countries: A Wavelet Approach", booktitle="33rd International Conference Mathematical Methods in Economics MME 2015 - Conference Proceedings", year="2015", pages="425--430", publisher="University of West Bohemia, Plzeň", address="Plzeň", isbn="978-80-261-0539-8" }