Acta academica karviniensia 2014, 14(4):39-51 | DOI: 10.25142/aak.2014.066

Měření efektivity regulatorních systémů ve vybraných zemích EU: dopad zavedení bankovní unie

Martin Hodula
Vysoká škola báňská - Technická univerzita Ostrava, Ekonomická fakulta, katedra Evropské integrace, Sokolská třída 33,701 21 Ostrava, Email:martin.hodula@vsb.cz

This article investigates the efficiency and potential effects of establishing European banking union. We build on recapitalizing banks model introduced by Freixas (2003) and Schoenmaker and Siegmann (2013) to capture the efficiency improvement of resolution over banks in distress. Our data contains Europe's Top 27 banks by their level of equity. Mathematical evidence suggests efficiency improvement of resolution mechanism in all of analyzed economies in referenced years (2005, 2007, 2009 and 2012). The results also confirmed initial hypothesis that the positive effects of moving from home to supranational regulation framework are much more significant in years of good economic performance.

Klíčová slova: banking regulation and supervision, banking union, efficiency, European Union
JEL classification: G01, G18, G28

Vloženo: 23. únor 2014; Přijato: 11. únor 2015; Zveřejněno: 30. prosinec 2014  Zobrazit citaci

ACS AIP APA ASA Harvard Chicago Chicago Notes IEEE ISO690 MLA NLM Turabian Vancouver
Hodula M. Měření efektivity regulatorních systémů ve vybraných zemích EU: dopad zavedení bankovní unie. Acta academica karviniensia. 2014;14(4):39-51. doi: 10.25142/aak.2014.066.
Stáhnout citaci

Reference

  1. ADMATI, A. a M. HELLWIG, 2013. The Bankers' New Clothes: What's Wrong with Banking and What to Do about It. Princeton: Princeton University Press. ISBN 978-14-00846-56-6. Přejít k původnímu zdroji...
  2. ACHARYA, V., 2009. A theory of systemic risk and design of prudential bank regulation. Journal of Financial Stability, 5, 224-255. ISSN 1572-3089. Přejít k původnímu zdroji...
  3. ALTER, A. a Y. SCHÜLER, 2012. Credit Spread Interdependencies of European States and Banks During the Financial Crisis. Journal of Banking and Finance, 36(12), 3444-3468. ISSN 0378-4266. Přejít k původnímu zdroji...
  4. BECK, T., R. TODOROV a W. WAGNER, 2013. Supervising cross-border banks: theory, evidence and policy. Economic Policy, 28, 5-44. ISSN 1468-0327. Přejít k původnímu zdroji...
  5. BERNANKE, B. S., 1983. Nonmonetary effects of the financial crisis in the propagation of the great depression. American Economic Review, 73, 257-276. ISSN 0002-8282. Přejít k původnímu zdroji...
  6. BREI, M., L. GAMBACORTA a G. VON PETER, 2013. Rescue packages and bank lending. Journal of Banking & Finance, 37(2), 490-505. ISSN 0378-4266. Přejít k původnímu zdroji...
  7. BRUNNERMEIER, M., L. GARICANO, P. LANE, S. NIEUWERBURGH, M. PAGANO, R. REIS, T. SANTOS a D. VAYANOS, 2011. European Safe Bonds: An executive summary [online]. [vid. 7. 6. 2014]. Dostupné z www: http://scholar.princeton.edu/markus/files/06h_esbies_exec_summary.pdf
  8. BRUNO, V. a H. SHIN, 2012. Capital Flows, Cross-Border Banking and Global Liquidity. NBER Working Paper Series, 19038. Cambridge: NBER. ISSN 0898-2937. Přejít k původnímu zdroji...
  9. CLAESSENS, S., R. HERRING a D. SCHOENMAKER, 2010. A Safer World Financial System: Improving the Resolution of Systemic Institutions. 12th Geneva Report on the World Economy. London: CEPR. ISBN 978-1-907142-09-3.
  10. EATWELL, J. a L. TAYLOR, 2000. Global Finance at Risk: The Case for International Regulation. Cambridge: Polity Press. ISBN 978-0-7456-2510-2.
  11. ECB, 2013. Banking Structures Report: November 2013 [online]. [vid. 7. 6. 2014]. Dostupné z www: http://www.ecb.europa.eu/pub/pdf/other/bankingstructuresreport201311en.pdf
  12. EICHENGREEN, B., 1999. Towards A New International Financial Architecture: A Practical Post-Asia Agenda. Washington, DC: Institute for International Economics. ISBN 978-0-88132-270-5.
  13. ELLIOTT, D. J., 2012. Key Issues on European Banking Union. Global Economy and Development Working Paper, 52. ISSN 1939-9383.
  14. FISHER, S., 1999. On the need for an international lender of last resort. Journal of Economic Perspectives, 13, 85-104. ISSN 0895-3309. Přejít k původnímu zdroji...
  15. FREIXAS, X., 2003. Crisis Management in Europe. In: J. KREMERS, D. SCHOENMAKER and P. WIERTS, eds. Financial Supervision in Europe. Cheltenham: Edward Elgar, s. 102-119. ISBN 978-18-40649-31-4.
  16. HALDANE, A. G., 2012. The Dog and the Frisbee. Bank of England Speech [online]. [vid. 7. 6. 2014]. Dostupné z http://www.bankofengland.co.uk/publications/Documents/speeches/2012/speech596.pdf
  17. HODULA, M., 2014. On the Mechanics of European Banks Bailout under Banking Union Conditions: cost-benefit analysis. In: I. HONOVÁ, ed. Proceedings of the 2nd International Conference on European Integration. Ostrava: VSB - Technical University of Ostrava, s. 244-252. ISBN 978-80-248-3388-0.
  18. HUDSON, M., 2012. The Bubble and Beyond. New York: ISLET. ISBN 978-39-81484-20-5.
  19. JEON, B., M. OLIVERO a J. WU, 2013. Multinational Banking and the International Transmission of Financial Shocks: Evidence from foreign bank subsidiaries. Journal of Banking and Finance, 37(2), 952-972. ISSN 0378-4266. Přejít k původnímu zdroji...
  20. LAEVEN, L. a F. VALENCIA, 2012. Systemic Banking Crises Database: An Update. IMF Working Paper [online]. No. WP/12/163. [vid. 7. 6. 2014]. Dostupné z https://www.imf.org/external/pubs/ft/wp/2012/wp12163.pdf
  21. LIU, Y. a CH. B. ROSENBERG, 2013. Dealing with Private Debt Distress in the Wake of the European Financial Crisis. IMF Working Paper, [online]. No. WP/13/44. [vid. 7. 6. 2014]. Dostupné z https://www.imf.org/external/pubs/ft/wp/2012/wp12163.pdf
  22. OBSTFELD, M., 2009. Lenders of Last Resort in a Globalized World. CEPR Discussion Paper [online]. No. DP7355. [vid. 7. 6. 2014]. Dostupné z http://eml.berkeley.edu/~obstfeld/lendersoflastresort.pdf
  23. RODRIK, D., 2000. How far will international economic integration go? Journal of Economic Perspectives, 14, 177-186. ISSN 0895-3309. Přejít k původnímu zdroji...
  24. ROGOFF, K., 1999. International institutions for reducing global financial instability. Journal of Economic Perspectives, 13, 21-42. ISSN 0895-3309. Přejít k původnímu zdroji...
  25. SCHOENMAKER, D., 2011a. The European Banking Landscape after the Crisis. DSF Policy Paper Series [online]. No. 12. [vid. 7. 6. 2014]. Dostupné z http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1824307 Přejít k původnímu zdroji...
  26. SCHOENMAKER, D., 2011b. The Financial Trilemma. Economics Letters, 111(1), 57-59. ISSN 0165-1765. Přejít k původnímu zdroji...
  27. SCHOENMAKER, D. a CH. VAN LAECKE, 2006. Current State of Cross-Border Banking. LSE Financial Markets Group Paper Series, 168. ISSN 1359-9151-168.
  28. SCHOENMAKER, D. a A. SIEGMANN, 2013. Efficiency Gains of a European Banking Union. Tinbergen Institute Discussion Paper [online]. No. 026. [vid. 7. 6. 2014]. Dostupné z http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2214919 Přejít k původnímu zdroji...
  29. SOTO, J. H., 2009. Money, Bank Credit, and Economic Cycles. Alabama: Ludwig von Mises Institute. ISBN 978-19-33550-39-8.