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Spillover of Domestic Regulation to Emerging Markets

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  • A.F. Tieman

Abstract

Correlation between the risks of portfolios of different commercial banks leads to too much risk taking from a social planner's perspective. The presence of a regulator improves this risk-benefit allocation of the financial system. In this paper I show that first-best regulation also leads to more attention for the fundamentals of borrowing countries.

Suggested Citation

  • A.F. Tieman, 2003. "Spillover of Domestic Regulation to Emerging Markets," DNB Staff Reports (discontinued) 90, Netherlands Central Bank.
  • Handle: RePEc:dnb:staffs:90
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    File URL: https://www.dnb.nl/binaries/sr090_tcm46-146867.pdf
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    References listed on IDEAS

    as
    1. Patrick Bolton & Xavier Freixas, 1997. "A dilution cost approach to financial intermediation and securities markets," Economics Working Papers 286, Department of Economics and Business, Universitat Pompeu Fabra.
    2. James R. Markusen, 2004. "Multinational Firms and the Theory of International Trade," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262633078, January.
    3. Wilko Bolt & Alexander F. Tieman, 2004. "Banking Competition, Risk and Regulation," Scandinavian Journal of Economics, Wiley Blackwell, vol. 106(4), pages 783-804, December.
    4. Paul Krugman & Anthony J. Venables, 1995. "Globalization and the Inequality of Nations," The Quarterly Journal of Economics, Oxford University Press, vol. 110(4), pages 857-880.
    5. Hart, O. & Moore, J., 1989. "Default And Renegotiation: A Dynamic Model Of Debt," Working papers 520, Massachusetts Institute of Technology (MIT), Department of Economics.
    6. Hancock, Diana & Wilcox, James A., 1998. "The "credit crunch" and the availability of credit to small business," Journal of Banking & Finance, Elsevier, vol. 22(6-8), pages 983-1014, August.
    7. repec:hhs:iuiwop:430 is not listed on IDEAS
    8. Jack High (ed.), 2001. "Competition," Books, Edward Elgar Publishing, number 1751.
    9. Xavier Freixas & Jean-Charles Rochet, 1997. "Microeconomics of Banking," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061937, January.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Bank Regulation; Spillovers; Fundamentals.;

    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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