How changes in global liquidity affect dynamics of banks' leverage: A case in Hong Kong

被引：0

作者：

Ho, Kelvin ^{[1
]}

Hui, Cho-Hoi ^{[1
]}

Li, Ka-Fai ^{[1
]}

Wong, Jim ^{[1
]}

机构：

[1] Hong Kong Monetary Author, Hong Kong, Peoples R China

来源：

PACIFIC ECONOMIC REVIEW | 2019年 / 24卷 / 03期

关键词：

PANEL-DATA; DETERMINANTS;

D O I：

10.1111/1468-0106.12263

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper examines how abundant global liquidity could influence the adjustment of banks' leverage. Using banks in Hong Kong as an example, we find that the global liquidity effect is significant, and that mean reversion of banks' leverage may under certain circumstances be more than offset by abundant global liquidity. Furthermore, we find that changes in global liquidity not only affect the level of leverage adjustment but also the adjustment speed of banks' leverage.

引用

页码：493 / 507

页数：15

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