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Czasopismo
2014 | nr 2 (55) | 85--90
Tytuł artykułu

Why Closing Failed Banks Helps the Real Economy

Autorzy
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
It is widely agreed that banks play a growth-enhancing role for the real economy. However, distorted incentives around bank insolvency may corrupt banks' credit allocation and monitoring - ultimately leading to suboptimal real economic performance. The outcomes of such distorted incentives are suboptimal credit allocation and monitoring - which is felt in the real economy: Not the projects and firms that need (and deserve) credit most on grounds of economic viability and profitability, but those that have particular risk- or asset-profiles are now favored by incentive-corrupted financial intermediaries. The results strongly advocate putting bank insolvency and resolution regimes center stage in discussions towards reforming bank regulation. In the European context, this calls for particular emphasis on the common resolution framework and the Single Resolution Mechanism as a vital part of the European Banking Union. (original abstract)
Czasopismo
Rocznik
Numer
Strony
85--90
Opis fizyczny
Twórcy
autor
  • Goethe University Frankfurt, Germany, Ph.D. student
Bibliografia
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Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171287661

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