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논문검색

Non-Core Bank Liabilities and Financial Vulnerability

초록

영어

A lending boom is re‡ected in the composition of bank liabilities when traditional retail deposits (core liabilities) cannot keep pace with asset growth and banks turn to other funding sources (non-core liabil- ities) to …nance their lending. We formulate a model of credit supply as the ‡ip side of a credit risk model where a large stock of non-core liabilities serves as an indicator of the erosion of risk premiums and hence of vulnerability to a crisis. We …nd supporting empirical evi- dence in a panel probit study of emerging and developing economies.

목차

Abstract
 1 Introduction
 2 Model
 3 Evidence from Panel Probit
  3.1 Data Description and Methodology
  3.2 Probit Estimation Results
 4 Robustness Checks
  4.1 Analysis with Quarterly Credit to GDP Ratio
  4.2 Global Factors as Control Variables
  4.3 Alternative Dependent Variables
 5 Summary and Concluding Remarks
 References
 Appendix

저자정보

  • Joon-Ho Hahm Yonsei University
  • Hyun Song Shin Princeton University
  • Kwanho Shin Korea University

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