Off the Radar: Factors behind the Growth of Shadow Banking in Europe
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F20%3A10245051" target="_blank" >RIV/61989100:27510/20:10245051 - isvavai.cz</a>
Result on the web
<a href="https://www.sciencedirect.com/science/article/pii/S0939362520301369" target="_blank" >https://www.sciencedirect.com/science/article/pii/S0939362520301369</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.ecosys.2020.100808" target="_blank" >10.1016/j.ecosys.2020.100808</a>
Alternative languages
Result language
angličtina
Original language name
Off the Radar: Factors behind the Growth of Shadow Banking in Europe
Original language description
This paper uses novel data from the European Central Bank and the Eurosystem on non-bank financial intermediation to investigate the potential factors of shadow banking growth for a panel of twenty-four countries in the European Union (EU). We find that the EU shadow banking system is highly procyclical and positively related to increasing demand by long-term institutional investors and to more stringent capital regulation. We show that individual entities in the shadow banking system can act as both complements and substitutes to traditional banking. In addition, we estimate four country-specific models using a Bayesian estimation method. We supplement the panel model estimates, which serve as a priori information, with data from a specific economy. We assert that, although some shadow banking determinants are uniform across countries, other may have heterogeneous effects across countries because of country-specific characteristics.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
<a href="/en/project/GA16-13784S" target="_blank" >GA16-13784S: Financial sector policy and institutions: Current challenges in balancing financial development and stability</a><br>
Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2020
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Economic Systems
ISSN
0939-3625
e-ISSN
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Volume of the periodical
44
Issue of the periodical within the volume
3
Country of publishing house
NL - THE KINGDOM OF THE NETHERLANDS
Number of pages
15
Pages from-to
100808
UT code for WoS article
000581879100013
EID of the result in the Scopus database
2-s2.0-85088372403