Conţinutul numărului revistei |
Articolul precedent |
Articolul urmator |
221 0 |
SM ISO690:2012 JOBERT, Thomas, MONAHOV, Alexandru, TYKHONENKO, Anna. Domestic credit in times of supervision: An empirical study of European economies. In: Revue Economique, 2018, nr. 4(69), pp. 575-591. ISSN 0035-2764. |
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Revue Economique | ||||||
Numărul 4(69) / 2018 / ISSN 0035-2764 /ISSNe 1950-6694 | ||||||
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Pag. 575-591 | ||||||
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Rezumat | ||||||
We study the impact of prudential supervision on domestic credit in 27 European countries throughout 1999-2012. We use the Empirical Iterative Bayes estimator to account for country heterogeneity. We find: 1) the interest rate not to be a fundamental variable in explaining domestic credit, 2) negative correlation between the estimated coefficients of credit sensitivity to investment and to financial dependence, 3) that the effects of supervision on credit differ by country, but 4) that it is possible to achieve an increase in supervisory stringency with positive effects on credit in the context of unified financial supervision. |
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Cuvinte-cheie Banking system supervision, Bayesian shrinkage estimator, Financial institution regulation, Prudential supervision |
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