Macroprudential policies, economic growth and banking crises

被引：16

作者：

Belkhir, Mohamed ^{[1
]}

Ben Naceur, Sami ^{[1
]}

Candelon, Bertrand ^{[2
]}

Wijnandts, Jean-Charles ^{[3
,4
]}

机构：

[1] Int Monetary Fund, Washington, DC USA

[2] Catholic Univ Louvain, Louvain Finance, Louvain La Neuve, Belgium

[3] Bank England, London, England

[4] UK Univ Catholique Louvain, Louvain Finance, Louvain La Neuve, Belgium

来源：

EMERGING MARKETS REVIEW | 2022年 / 53卷

关键词：

Macroprudential policies; Banking crises; Economic growth; PANEL-DATA; FRAMEWORK; MODELS; SYSTEM;

D O I：

10.1016/j.ememar.2022.100936

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Using a sample covering emerging market and advanced economies, we assess the impact of macroprudential policies on financial stability. Our empirical setup is designed to account for the potential direct and indirect effects that macroprudential policies can have on banking crises. We find that while macroprudential policies (MPPs) exert a direct stabilizing effect, they also have an indirect destabilizing effect, which works through the depressing of economic growth. It turns out that mitigating effects of MPPs on the likelihood of banking crises is more pronounced in emerging market economies relative to advanced economies.

引用

页数：23

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