The impact of conventional and unconventional monetary policies on loan default risk-Evidence from UK peer-to-peer lending platforms

被引：1

作者：

Vu, Anh Nguyet ^{[1
,2
]}

机构：

[1] Univ Sussex, Business Sch, Brighton, England

[2] Univ Sussex, Business Sch, Brighton BN1 9SL, England

来源：

INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS | 2025年 / 30卷 / 01期

关键词：

conventional and unconventional monetary policies; Fintech; loan default risk; peer-to-peer lending; risk-taking channel; survival analysis; SURVIVAL ANALYSIS; CREDIT; REGRESSION; SAY;

D O I：

10.1002/ijfe.2921

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study investigates the effect of both conventional and unconventional monetary policies on loan default of UK personal and business peer-to-peer (P2P) loans. I employ loan book data of Zopa, Lending Works, and MarketFinance, which are three of the most popular UK P2P lending platforms. Survival analysis reveals consistent evidence for the existence of the risk-taking channel of monetary policy. Monetary easing, be it conventional or unconventional, reduces loan survival in the P2P lending market. This finding delivers useful information for policymakers to rebalance the countervailing effects of expansionary monetary policies on financial stability during the era of alternative financing.

引用

页码：242 / 260

页数：19

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