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2015
- handle: 10670/1.xoq7w9
- halshs: halshs-01295606
Mots-clés
Banking system supervision Financial institution regulation Prudential supervision Supervision in the EU Bayesian shrinkage estimator C - Mathematical and Quantitative Methods E - Macroeconomics and Monetary Economics G - Financial EconomicsSujets proches
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Thomas Jobert et al., « Domestic Credit in Times of Supervision: an Empirical Investigation of European Countries », HAL-SHS : économie et finance, ID : 10670/1.xoq7w9
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Résumé
We study the impact of prudential supervision on domestic credit in 27 European countries throughout 1999-2012. We use the Empirical Iterative Bayes estimator to account for country heterogeneity. We find: (i) the interest rate not to be a fundamental variable in explaining domestic credit, (ii) negative relations between credit sensitivity to past investment and to financial dependence, (iii) that the effects of supervision on credit differ by country, but (iv) that it is possible to achieve an increase in supervisory stringency with positive effects on credit in the context of unified financial supervision.