The contribution of (shadow) banks and real estate to systemic risk in China

被引：13

作者：

Pellegrini, Carlo Bellavite ^{[1
,2
]}

Cincinelli, Peter ^{[3
]}

Meoli, Michele ^{[4
,5
]}

Urga, Giovanni ^{[6
,7
]}

机构：

[1] Catholic Univ, Dept Polit Econ, Milan, Italy

[2] Catholic Univ, CSEA, Milan, Italy

[3] Univ Bergamo, Dept Management, Bergamo, Italy

[4] Univ Bergamo, Dept Management Informat & Prod Engn, Bergamo, Italy

[5] Univ Bergamo, CCSE, Bergamo, Italy

[6] Bayes Business Sch, Fac Finance, London, England

[7] Bayes Business Sch, Ctr Econometr Anal, London, England

来源：

JOURNAL OF FINANCIAL STABILITY | 2022年 / 60卷

关键词：

Systemic risk; Traditional banks; Shadow banking entities; Real estate; Financial crises; Financial stability; Panel data; STOCK-MARKET; NETWORK;

D O I：

10.1016/j.jfs.2022.101018

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We empirically evaluate how accounting and financial variables affect the level of systemic risk in traditional and shadow banks, and in real estate finance services in China over the period 2006-2019. We also conduct some stability analysis by evaluating the impact of crisis sub-periods. We find that systemic risk increases in the Size of large financial institutions, particularly shadow entities, while it is insensitive to the Size of real estate finance services. Real estate finance services are instead particularly sensitive to Maturity Mismatch and Leverage. Finally, systemic risk differs across state and non state owned banks.

引用

页数：20

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