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Monetary Policy and Bank Risk-taking: Evidence from Emerging Economies

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  • Wu, Ji

    () (Research Institute of Economics and Management)

  • Jeon, Bang Nam

    () (School of Economics)

  • Chen, Minghua

    () (Research Institute of Economics and Management)

  • Wang, Rui

    () (Research Institute of Economics and Management)

Abstract

This paper addresses the impact of monetary policy on banks’ risk-taking by using the bank-level panel data from more than 1000 banks in 33 emerging economies during 2000-2012. We find that, consistent with the proposition of the “bank risk-taking channel” of monetary policy transmission, banks’ riskiness increases when monetary policy is eased. Bank risk-taking amid expansionary monetary policy is more conspicuous in small and less liquid banks, and in countries with a stronger deposit insurance scheme and a fixed exchange rate regime. We also find that the monetary policy-bank risk nexus is dampened in more concentrated banking markets and when monetary policy is more transparent.

Suggested Citation

  • Wu, Ji & Jeon, Bang Nam & Chen, Minghua & Wang, Rui, 2015. "Monetary Policy and Bank Risk-taking: Evidence from Emerging Economies," School of Economics Working Paper Series 2015-3, LeBow College of Business, Drexel University.
  • Handle: RePEc:ris:drxlwp:2015_003
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    Cited by:

    1. De Chiara, Alessandro & Livio, Luca & Ponce, Jorge, 2018. "Flexible and mandatory banking supervision," Journal of Financial Stability, Elsevier, vol. 34(C), pages 86-104.
    2. Claudiu T. Albulescu & Matei Tamasila & Ilie M. Taucean, 2016. "Shadow economy, tax policies, institutional weakness and financial stability in selected OECD countries," Economics Bulletin, AccessEcon, vol. 36(3), pages 1868-1875.

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    Keywords

    Monetary policy; Bank risk-taking; Emerging economies;

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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