| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16978 |
| DP16978 "Cooperation externalities": Supranational supervision and regulatory arbitrage | |
| Thorsten Beck; Consuelo Silva-Buston; Wolf Wagner | |
| 发表日期 | 2022-01-31 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | Does supervisory cooperation among countries lead to risk-shifting within a banking group? Using hand-collected data on supervisory cooperation and 113 banking groups, we find that banking groups increase lending in a foreign subsidiary when the degree to which their other (foreign) subsidiaries are covered by cooperation agreements increases. The increase in lending is funded by debt and reduces profitability, suggesting higher risk-taking in the subsidiary. We show that the magnitude of the lending effect is higher when supervisory oversight and market discipline in the subsidiary country are weak relative to the other countries a bank group is operating in. Taken together, our results indicate that supervisory cooperation agreements have negative externalities on third countries, undermining their overall effectiveness and suggesting a need to “cooperate on cooperation”. |
| 主题 | Financial Economics |
| 关键词 | Supranational cooperation Cross-border banking Externalities |
| URL | https://cepr.org/publications/dp16978-0 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545923 |
| 推荐引用方式 GB/T 7714 | Thorsten Beck,Consuelo Silva-Buston,Wolf Wagner. DP16978 "Cooperation externalities": Supranational supervision and regulatory arbitrage. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
