Economic policy uncertainty and banks' portfolio adjustment: evidence from Japan

被引：1
|
作者：
Lai, Karen Kailin [1 ,3 ]
Yasuda, Yukihiro [2 ]
机构：
[1] Hosei Univ, Grad Sch Global & Interdisciplinary Studies, Tokyo, Japan
[2] Hitotsubashi Univ, Grad Sch Business Adm, Tokyo, Japan
[3] Hosei Univ, Grad Sch Global & Interdisciplinary Studies, 2-17-1 Fujimi,Chiyoda Ku, Tokyo 1028160, Japan
来源：
APPLIED ECONOMICS LETTERS | 2024年
基金：
日本学术振兴会;
关键词：
Economic policy uncertainty (EPU); capital requirement; portfolio adjustment; Japanese banks;
D O I：
10.1080/13504851.2024.2321331
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We empirically examine the impact of Economic Policy Uncertainty (EPU) on banks' portfolio adjustment under the capital requirement of Japanese banks from 2002-2019. We find that when EPU increases, Japanese banks hold more government bonds but fewer stocks. Japanese banks extend more loans to large companies but reduce loans to small- and medium-sized enterprises (SMEs). Internationally active banks reduce securities drastically relative to domestic banks.
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页数：7
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