Monetary policy and bank risk-taking: Evidence from emerging economies

被引：86
作者：
Chen, Minghua [1 ]
Wu, Ji [2 ]
Jeon, Bang Nam [3 ]
Wang, Rui [1 ]
机构：
[1] Southwestern Univ Finance & Econ, Res Inst Econ & Management, Chengdu, Peoples R China
[2] Southwestern Univ Finance & Econ, Collaborat Innovat Ctr Financial Secur, Res Inst Econ & Management, Chengdu, Peoples R China
[3] Drexel Univ, LeBow Coll Business, Sch Econ, Philadelphia, PA 19104 USA
来源：
EMERGING MARKETS REVIEW | 2017年 / 31卷
关键词：
Monetary policy; Bank risk-taking; Emerging economies; INTEREST-RATES; CAPITAL REGULATION; CRISES; TRANSPARENCY; TRANSMISSION; COMPETITION; FINANCE; DIVERSIFICATION; INDEPENDENCE; SUPERVISION;
D O I：
10.1016/j.ememar.2017.04.001
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper addresses the impact of monetary policy on banks' risk-taking by using bank-level panel data from more than 1000 banks in 29 emerging economies during 2000-2012. We find that, consistent with the proposition of the "bank risk-taking channel" of monetary policy transmission, banks' riskiness increases when monetary policy is eased. This result is robust when we adopt alternative measures of monetary policy and bank risk, and use different econometric methodologies. In addition, we find that bank risk-taking amid expansionary monetary policy is less conspicuous in a more consolidated banking sector and when monetary policy is more transparent. (C) 2017 Published by Elsevier B.V.
引用
收藏
页码：116 / 140
页数：25
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