Does macroprudential policy leak? Evidence from shadow bank lending in EU countries
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F24%3A10255647" target="_blank" >RIV/61989100:27510/24:10255647 - isvavai.cz</a>
Result on the web
<a href="https://www.sciencedirect.com/science/article/pii/S0264999324000130#aep-article-footnote-id6" target="_blank" >https://www.sciencedirect.com/science/article/pii/S0264999324000130#aep-article-footnote-id6</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.econmod.2024.106657" target="_blank" >10.1016/j.econmod.2024.106657</a>
Alternative languages
Result language
angličtina
Original language name
Does macroprudential policy leak? Evidence from shadow bank lending in EU countries
Original language description
Post the Global Financial Crisis, there has been a surge in the global use of macroprudential policy tools. Concerns have arisen due to the predominant targeting of traditional banks, potentially prompting activity reallocation towards shadow banking. This study scrutinizes the impact of macroprudential policy on shadow bank lending, using quarterly data from 23 European Union countries spanning 1999-2019. Employing a precise measure of non-bank financial intermediation, we find that macroprudential tightening consistently drives increased shadow bank lending. Particularly evident in low-capitalized banking sectors, this implies a strategic credit shift from banks to non-banks. Our results emphasize the need for a balanced regulatory framework for both institutions, illuminating the intricate relationship between macroprudential policies, capitalization levels, and credit dynamics. This insight informs the development of effective regulatory frameworks in the post-crisis financial sector. (C) 2024 Elsevier B.V.
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
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2024
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Economic Modelling
ISSN
0264-9993
e-ISSN
1873-6122
Volume of the periodical
132
Issue of the periodical within the volume
March
Country of publishing house
NL - THE KINGDOM OF THE NETHERLANDS
Number of pages
13
Pages from-to
106657
UT code for WoS article
001178968200001
EID of the result in the Scopus database
2-s2.0-85184007508