Macroeconomic Determinants of Shadow Banking: evidence from Spain

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F17%3A10236654" target="_blank" >RIV/61989100:27510/17:10236654 - isvavai.cz</a>

Výsledek na webu

<a href="https://is.muni.cz/do/econ/sborniky/70896034/EFS2017-Proceedings_1_final.pdf?fakulta=1456#page=205" target="_blank" >https://is.muni.cz/do/econ/sborniky/70896034/EFS2017-Proceedings_1_final.pdf?fakulta=1456#page=205</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Macroeconomic Determinants of Shadow Banking: evidence from Spain

Popis výsledku v původním jazyce

Shadow banking is a term that corresponds to credit intermediation outside the regulated banking system. Shadow banking system constitutes over one-quarter of total financial assets in the euro Area. Traditional banks now rely more on short-term funding from other financial intermediaries, which also cover shadow banking entities. Due to this fact they may become more susceptible to runs and liquidity shortages and endanger overall financial stability. Macroprudential authorities should therefore carefully monitor and supervise the growing share of shadow banking activities in the financial system. This paper presents a novel evidence on the shadow banking system dynamics in Spain. We chose Spain as a training sample because of its highly dynamic housing markets and related high securitization of loans. We use different methods to estimate the shadow banking size. We estimate a Bayesian ARDL model to uncover possible determinants of shadow banking system dynamics. Based on preliminary results, we conclude that macroeconomic environment may significantly influence the evolution of shadow banking system.

Název v anglickém jazyce

Macroeconomic Determinants of Shadow Banking: evidence from Spain

Popis výsledku anglicky

Shadow banking is a term that corresponds to credit intermediation outside the regulated banking system. Shadow banking system constitutes over one-quarter of total financial assets in the euro Area. Traditional banks now rely more on short-term funding from other financial intermediaries, which also cover shadow banking entities. Due to this fact they may become more susceptible to runs and liquidity shortages and endanger overall financial stability. Macroprudential authorities should therefore carefully monitor and supervise the growing share of shadow banking activities in the financial system. This paper presents a novel evidence on the shadow banking system dynamics in Spain. We chose Spain as a training sample because of its highly dynamic housing markets and related high securitization of loans. We use different methods to estimate the shadow banking size. We estimate a Bayesian ARDL model to uncover possible determinants of shadow banking system dynamics. Based on preliminary results, we conclude that macroeconomic environment may significantly influence the evolution of shadow banking system.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50206 - Finance

Projekt

<a href="/cs/project/GA16-13784S" target="_blank" >GA16-13784S: Hospodářská politika a instituce pro finanční sektor: Současné výzvy při vyvažování finančního rozvoje a stability</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2017

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

European Financial Systems 2017: proceedings of the 14th international scientific conference : June 26-27, 2017, Brno, Czech Republic. Part 1.

ISBN

978-80-210-8609-8

ISSN

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e-ISSN

neuvedeno

Počet stran výsledku

9

Strana od-do

204-212

Název nakladatele

Masaryk University

Místo vydání

Brno

Místo konání akce

Brno

Datum konání akce

26. 6. 2017

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000418110700025