State interventions to rescue banks during the global financial crisis
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10071/18403 |
Resumo: | We model unique state interventions to rescue commercial banks during the 2008-09 global financial crisis with the complementary binary logistic model that accommodates their skewed distribution. Our findings show that large and illiquid banks, and banks from countries with weak regulations, and weak shareholder and creditor rights are more likely to receive state interventions. These findings remain robust to a restricted definition of state intervention, alternative measures of bank fundamentals, placebo estimations, counterfactual sampling with propensity scores, bank and country sample splits, and the standard logistic model. These bank and incremental country level predictors can help regulators and supervisors limit future state interventions. |
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State interventions to rescue banks during the global financial crisisFinancial crisisBanksGovernment supportWe model unique state interventions to rescue commercial banks during the 2008-09 global financial crisis with the complementary binary logistic model that accommodates their skewed distribution. Our findings show that large and illiquid banks, and banks from countries with weak regulations, and weak shareholder and creditor rights are more likely to receive state interventions. These findings remain robust to a restricted definition of state intervention, alternative measures of bank fundamentals, placebo estimations, counterfactual sampling with propensity scores, bank and country sample splits, and the standard logistic model. These bank and incremental country level predictors can help regulators and supervisors limit future state interventions.Elsevier2020-02-27T00:00:00Z2019-01-01T00:00:00Z20192019-07-09T15:49:49Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10071/18403eng1059-056010.1016/j.iref.2019.02.013Abreu, J. F.Alves, M. G.Gulamhussen, M. A.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-25T17:48:26ZPortal AgregadorONG |
dc.title.none.fl_str_mv |
State interventions to rescue banks during the global financial crisis |
title |
State interventions to rescue banks during the global financial crisis |
spellingShingle |
State interventions to rescue banks during the global financial crisis Abreu, J. F. Financial crisis Banks Government support |
title_short |
State interventions to rescue banks during the global financial crisis |
title_full |
State interventions to rescue banks during the global financial crisis |
title_fullStr |
State interventions to rescue banks during the global financial crisis |
title_full_unstemmed |
State interventions to rescue banks during the global financial crisis |
title_sort |
State interventions to rescue banks during the global financial crisis |
author |
Abreu, J. F. |
author_facet |
Abreu, J. F. Alves, M. G. Gulamhussen, M. A. |
author_role |
author |
author2 |
Alves, M. G. Gulamhussen, M. A. |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Abreu, J. F. Alves, M. G. Gulamhussen, M. A. |
dc.subject.por.fl_str_mv |
Financial crisis Banks Government support |
topic |
Financial crisis Banks Government support |
description |
We model unique state interventions to rescue commercial banks during the 2008-09 global financial crisis with the complementary binary logistic model that accommodates their skewed distribution. Our findings show that large and illiquid banks, and banks from countries with weak regulations, and weak shareholder and creditor rights are more likely to receive state interventions. These findings remain robust to a restricted definition of state intervention, alternative measures of bank fundamentals, placebo estimations, counterfactual sampling with propensity scores, bank and country sample splits, and the standard logistic model. These bank and incremental country level predictors can help regulators and supervisors limit future state interventions. |
publishDate |
2019 |
dc.date.none.fl_str_mv |
2019-01-01T00:00:00Z 2019 2019-07-09T15:49:49Z 2020-02-27T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10071/18403 |
url |
http://hdl.handle.net/10071/18403 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
1059-0560 10.1016/j.iref.2019.02.013 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Elsevier |
publisher.none.fl_str_mv |
Elsevier |
dc.source.none.fl_str_mv |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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1777304055015538688 |