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The Shadow Banking System as an Alternative Source of Liquidity

In: The Shadow Banking System

Author

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  • Valerio Lemma

    (Marconi University of Rome)

Abstract

This chapter considers the key economic drivers of shadow banking. It begins by examining the efficiencies of this system, that are the rationale for the bundling of activities that we define as market-based financing. The chapter goes on to take into account the market failures amplified by the shadows, focusing on asymmetric information, lack of transparency, and market instability.

Suggested Citation

  • Valerio Lemma, 2016. "The Shadow Banking System as an Alternative Source of Liquidity," Palgrave Macmillan Studies in Banking and Financial Institutions, in: The Shadow Banking System, chapter 2, pages 37-61, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-1-137-49613-3_3
    DOI: 10.1057/9781137496133_3
    as

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