Economic uncertainty and non-bank financial intermediation: Evidence from a European panel

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F23%3A10253013" target="_blank" >RIV/61989100:27510/23:10253013 - isvavai.cz</a>
Result on the web
<a href="https://www.sciencedirect.com/science/article/pii/S1544612323000491#ack0001a" target="_blank" >https://www.sciencedirect.com/science/article/pii/S1544612323000491#ack0001a</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.frl.2023.103675" target="_blank" >10.1016/j.frl.2023.103675</a>

Result language
angličtina
Original language name
Economic uncertainty and non-bank financial intermediation: Evidence from a European panel
Original language description
In the paper, we measure the connection between (economic) uncertainty and dynamics of the shadow banking sector in a panel of 27 European countries spanning the 1999Q1-2021Q4 period. Our results show that the shadow banking sector growth declines heavily during stressful periods associated with a hike in market uncertainty and risk-aversion but also uncertainty related to the economic policy conduct. Results question the ability of the shadow banking sector to secure funding to the economy during less tranquil times when liquidity quickly evaporates.
Czech name
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Czech description
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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
50206 - Finance

Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2023
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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