| 题名: | COVID-19 outbreak, government capital injections, and shadow banking efficiency |
| 作者: | Xuelian Li;Yuxin Xie;Jyh-Horng Lin |
| 关键词: | COVID-19;shadow banking;government capital injection;efficiency |
| 日期: | 2021-01-20 |
| 上传时间: | 2020-12-15 12:10:17 (UTC+8) |
| 出版者: | Applied Economics |
| 摘要: | This paper investigates the effects of the novel coronavirus (COVID-19) outbreak and government capital injections on the bank’s optimal interest margin and the efficiency gain/loss from the shadow banking operations. The down-and-out call option approach is adapted to model the structural break in volatility to capture the COVID-19 outbreak. Results show that the COVID-19 outbreak reduces the optimal bank interest margin, government capital injections enhance the margin, and both the outbreak and capital injections harm the efficiency gain from shadow banking. COVID-19, as such, makes the bank more prone to risk-taking, thereby adversely affecting banking stability. |
| 關聯: | Applied Economics 53(4), p.495-505 |
| DOI: | 10.1080/00036846.2020.1808183 |
| 显示于类别: | [國際企業學系暨研究所] 期刊論文
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