References | Journal/conference | Country/region | Main arguments/findings |
---|---|---|---|
Apostoaie and Bilan (2020) | Economic Research-Ekonomska Istraživanja | Central and Eastern European countries | Economic growth and institutional investor’s higher funding demand positively affect the development of the shadow banking sector. Additionally, investors depend on shadow banks for higher yields in a low-interest rate situation |
Barbu et al. (2016) | Review of Economics and Business Studies | 15 European countries | Stock market indices and the long-term interest rates positively influence the shadow banking size, while the development of investment funds and the M2/GDP ratio negatively impact |
Hodula et al. (2017) | European Financial Systems 2017 | Spain | An increase in term spreads and low interest rates tend to affect the growth of shadow banking positively. Moreover, the country-specific characteristics and individual components of shadow banking have due importance in such studies |
Zhou and Tewari (2019a) | Cogent Economics & Finance | 14 emerging economies and Singapore | A negative relationship exists between shadow banking and monetary policy. Shadow banking increases when bank risk-taking is reduced |
Hodula et al. (2020) | Economic Systems | 24 EU countries | Difficile financial development, strict regulation, and demand for long-term institutional investors positively influence the shadow banking growth |
Kim (2017) | IFC Conference, Bank for International Settlements | G-20 Countries | Insurance companies and pension funds positively influence shadow banking growth. The size of banks’ assets also reveals similar results |
Duca (2016) | Journal of Banking & Finance | USA | Change in information and reserve requirements costs and shift in bank-nonbank credit sources regulation has a negative and long-run impact on shadow banks’ share in funding short-term business debt. This share fell in the short run when short-term liquidity premia, term premia, and event risks in the security market increased |