平衡金融稳定与经济增长：宏观审慎监管的全面分析

IF 2.5 Q2 ECONOMICS Eurasian Economic Review Pub Date : 2024-07-23 DOI:10.1007/s40822-024-00283-x

Salma Gallas, Houssam Bouzgarrou, Montassar Zayati

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引用次数: 0

摘要

本研究旨在探讨宏观审慎措施对发达经济体和新兴经济体金融稳定的影响，同时考虑银行危机和经济增长等关键内生变量。我们的分析涵盖 2000-2017 年间的 66 个国家，重点关注两种效应：直接稳定效应（降低银行危机发生的可能性）和间接不稳定效应（可能减缓国内生产总值的增长）。利用广义脉冲响应函数模型，我们评估了宏观审慎政策工具的功效。我们的研究结果表明，与刺激经济增长相比，宏观审慎紧缩政策在降低银行危机发生的可能性方面更为有效，尤其是当宏观审慎政策工具的影响为正数时。最终，我们的研究强调了银行危机发生概率与金融稳定性之间的相互作用，表明了宏观审慎监管在促进金融体系的稳定和弹性方面的重要性。

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Balancing financial stability and economic growth: a comprehensive analysis of macroprudential regulation

The purpose of this study is to explore the influence of macroprudential measures on financial stability in both advanced and emerging economies, considering key endogenous variables such as banking crises and economic growth. Our analysis covers 66 countries over the period 2000–2017 and focuses on two effects: the direct stabilizing effect, which reduces the likelihood of banking crises, and the indirect destabilizing effect, which may slow down the GDP growth. Employing Generalized Impulse Response Function modeling, we assess the efficacy of macroprudential policy tools. Our findings suggest that macroprudential tightening is more effective in reducing the likelihood of banking crises than in stimulating economic growth, particularly when the impact of macroprudential tools is positive. Ultimately, our study highlights the interplay between the probability of banking crises and financial stability, demonstrating the importance of macroprudential regulation in promoting a stable and resilient financial system.

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来源期刊

Eurasian Economic Review ECONOMICS-

CiteScore

6.00

自引率

2.90%

发文量

期刊介绍： The mission of Eurasian Economic Review is to publish peer-reviewed empirical research papers that test, extend, or build theory and contribute to practice. All empirical methods - including, but not limited to, qualitative, quantitative, field, laboratory, and any combination of methods - are welcome. Empirical, theoretical and methodological articles from all fields of finance and applied macroeconomics are featured in the journal. Theoretical and/or review articles that integrate existing bodies of research and that provide new insights into the field are highly encouraged. The journal has a broad scope, addressing such issues as: financial systems and regulation, corporate and start-up finance, macro and sustainable finance, finance and innovation, consumer finance, public policies on financial markets within local, regional, national and international contexts, money and banking, and the interface of labor and financial economics. The macroeconomics coverage includes topics from monetary economics, labor economics, international economics and development economics. Eurasian Economic Review is published quarterly. To be published in Eurasian Economic Review, a manuscript must make strong empirical and/or theoretical contributions and highlight the significance of those contributions to our field. Consequently, preference is given to submissions that test, extend, or build strong theoretical frameworks while empirically examining issues with high importance for theory and practice. Eurasian Economic Review is not tied to any national context. Although it focuses on Europe and Asia, all papers from related fields on any region or country are highly encouraged. Single country studies, cross-country or regional studies can be submitted.