Bank liquidity creation, network contagion and systemic risk: Evidence from Chinese listed banks

被引：32
|
作者：
Zhang, Xingmin [1 ]
Fu, Qiang [2 ]
Lu, Liping [3 ,4 ]
Wang, Qingyu [2 ]
Zhang, Shuai [2 ]
机构：
[1] Southwestern Univ Finance & Econ, Sch Finance, Chengdu, Sichuan, Peoples R China
[2] Chongqing Univ, Sch Econ & Business Adm, Chongqing, Peoples R China
[3] Renmin Univ China, Sch Finance, Beijing, Peoples R China
[4] Renmin Univ China, China Banking Res Ctr, Beijing, Peoples R China
来源：
JOURNAL OF FINANCIAL STABILITY | 2021年 / 53卷
基金：
中国国家自然科学基金;
关键词：
Liquidity creation; Externality; Systemic risk; Network;
D O I：
10.1016/j.jfs.2021.100844
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We examine the impact of bank liquidity creation on systemic risk and its heterogeneous impact over the network connectedness. We find that excessive liquidity creation increases the systemic risk with a "U shape" relationship, while internal and external liquidity creation drives systemic risk in a different way. Network connectedness of banks strengthens the relationship between liquidity creation and systemic risk. Our results provide supporting evidence on regulating bank liquidity creation to enhance the financial stability. (C) 2021 Elsevier B.V. All rights reserved.
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页数：14
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