Bailout policies, bank competition and bank risk-taking in crisis periods

Detalhes bibliográficos
Autor(a) principal: Schiozer, Rafael Felipe
Data de Publicação: 2016
Outros Autores: Vilarins, Ramon Silva
Tipo de documento: Artigo de conferência
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/17416
Resumo: Evento: Multinational Finance Society Annual Meeting e Apresentação
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spelling Schiozer, Rafael FelipeVilarins, Ramon SilvaDemais unidades::RPCA2016-11-03T12:39:04Z2016-11-03T12:39:04Z2016http://hdl.handle.net/10438/17416Evento: Multinational Finance Society Annual Meeting e ApresentaçãoThis paper analyzes the impact of government bailout policies on the risk of the banking sector in OECD countries between 2005 and 2013. We use the 2007-2008 financial crisis as an exogenous source of change in bailout expectations. First, in line with the moral hazard hypothesis, we verify that financial institutions with high bailout expectations assume higher risks than others. Second, we find that, in normal times, rescue guarantees to large financial institutions distort competition in the sector and increase the risk of the other institutions. However, during the recent financial crisis, increases in the rescue expectation of competitors of an institution, to the extent that they represent a reduction in its chance of bailout, decrease its risk taking. Additionally, in a crisis period, it is also evident that the deterioration in the countries’ sovereign capacity to bailout banks is associated with lower risk taking; on average, the increase in risk taking is higher in countries with a better fiscal condition.engBank bailoutBank risk takingBank competitionFinancial crisisAdministração de empresasCrise financeiraRisco (Economia)BancosBailout policies, bank competition and bank risk-taking in crisis periodsinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/conferenceObjectreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessRede de PesquisaTEXTBailout_Policies_Bank_Competition_and_Bank_Risk_Taking_in_Crisis_Periods.pdf.txtBailout_Policies_Bank_Competition_and_Bank_Risk_Taking_in_Crisis_Periods.pdf.txtExtracted 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dc.title.eng.fl_str_mv Bailout policies, bank competition and bank risk-taking in crisis periods
title Bailout policies, bank competition and bank risk-taking in crisis periods
spellingShingle Bailout policies, bank competition and bank risk-taking in crisis periods
Schiozer, Rafael Felipe
Bank bailout
Bank risk taking
Bank competition
Financial crisis
Administração de empresas
Crise financeira
Risco (Economia)
Bancos
title_short Bailout policies, bank competition and bank risk-taking in crisis periods
title_full Bailout policies, bank competition and bank risk-taking in crisis periods
title_fullStr Bailout policies, bank competition and bank risk-taking in crisis periods
title_full_unstemmed Bailout policies, bank competition and bank risk-taking in crisis periods
title_sort Bailout policies, bank competition and bank risk-taking in crisis periods
author Schiozer, Rafael Felipe
author_facet Schiozer, Rafael Felipe
Vilarins, Ramon Silva
author_role author
author2 Vilarins, Ramon Silva
author2_role author
dc.contributor.unidadefgv.por.fl_str_mv Demais unidades::RPCA
dc.contributor.author.fl_str_mv Schiozer, Rafael Felipe
Vilarins, Ramon Silva
dc.subject.eng.fl_str_mv Bank bailout
Bank risk taking
Bank competition
Financial crisis
topic Bank bailout
Bank risk taking
Bank competition
Financial crisis
Administração de empresas
Crise financeira
Risco (Economia)
Bancos
dc.subject.area.por.fl_str_mv Administração de empresas
dc.subject.bibliodata.por.fl_str_mv Crise financeira
Risco (Economia)
Bancos
description Evento: Multinational Finance Society Annual Meeting e Apresentação
publishDate 2016
dc.date.accessioned.fl_str_mv 2016-11-03T12:39:04Z
dc.date.available.fl_str_mv 2016-11-03T12:39:04Z
dc.date.issued.fl_str_mv 2016
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/17416
url http://hdl.handle.net/10438/17416
dc.language.iso.fl_str_mv eng
language eng
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