Banking regulations, financial system stability and trust in the ECB: a structural equation model

IF 0.6 Q2 Social Sciences Economic Annals-XXI Pub Date : 2021-09-21 DOI:10.21003/ea.v192-12
M. Mursalov
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Abstract

Government interventions has long been a question of great interest in a wide range of fields. Scholars have been debating the scope and degree of intervention in the banking sphere that considers government capabilities. This study set out to provide some empirical evidence on the intertwined relationship between government interventions carried out through banking regulations and trust in the European Central Bank (ECB), taking into account the mediating role of financial system stability. A combination of quantitative approaches was used in the data analysis. The confirmatory factor analysis in STATISTICA was applied for hypothesis development, followed by the structural equation modeling (SEM) based on the statistical package SEPATH used for research hypothesis testing. This study aims to contribute to this growing area of research by exploring that financial system stability mediates the path between banking regulation and trust in central banking. It was found that stricter government regulatory and supervisory interventions in the banking sphere are changing the imprudent financial institutions’ behavior, however, negatively accomplishing financial development financial markets and institutions. Meanwhile, both financial system stability and banking regulations contribute to trust in the ECB. The research findings add to the growing body of research that indicates that stricter government regulatory and supervisory interventions in the banking sphere drive trust violations in central banking upon the causal chain by virtue of financial development financial markets and institutions deterioration.
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银行业监管、金融体系稳定和对欧洲央行的信任:一个结构方程模型
长期以来,政府干预一直是一个在广泛领域引起极大兴趣的问题。学者们一直在讨论在考虑政府能力的情况下,对银行业干预的范围和程度。考虑到金融体系稳定的中介作用,本研究旨在为通过银行监管实施的政府干预与对欧洲中央银行(ECB)的信任之间的交织关系提供一些经验证据。在数据分析中使用了定量方法的组合。采用STATISTICA中的验证性因子分析进行假设开发,然后采用基于SEPATH统计软件包的结构方程模型(SEM)进行研究假设检验。本研究旨在通过探索金融系统稳定性在银行监管和对中央银行的信任之间的中介路径,为这一不断发展的研究领域做出贡献。研究发现,政府对银行业更严格的监管和监督干预正在改变金融机构不谨慎的行为,但对金融市场和金融机构的发展产生了负面影响。与此同时,金融体系的稳定和银行监管都有助于增强人们对欧洲央行的信任。越来越多的研究表明,政府对银行业更严格的监管和监督干预,通过金融发展、金融市场和制度恶化,推动了中央银行在因果链上的信托违规行为。
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来源期刊
Economic Annals-XXI
Economic Annals-XXI ECONOMICS-
CiteScore
1.50
自引率
0.00%
发文量
0
期刊介绍: The Economic Annals-XXI Journal – recognized in Ukraine and abroad scientific-analytic edition. Scientific articles of leading Ukrainian and other foreign scientists, postgraduate students and doctorates, deputies of Ukraine, heads of state and local authorities, materials of scientific conferences and seminars; reviews on scientific monographs, etc. are regularly published in this Journal.
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