The DOI matches its Crossref record; 42 of the 42 references it cites were found in a registry or an index.
Economic policy uncertainty and financial stability–Is there a relation?
Open accessAbstract
Abstract This paper investigates the impact of economic policy uncertainty on financial stability. Using data for 23 countries over the period of 1996 to 2016, we show that the impact is negative and statistically significant. Economically, a unit standard deviation increase in economic policy uncertainty decreases financial stability by between 2.66% and 7.26% of its sample mean. The negative impact of economic policy uncertainty on financial stability is stronger for countries with higher competition, lower regulatory capital, and smaller financial systems. We show that our finding is robust using bank-level data and different constructions of global panel portfolios, and controlling for Z-score skewness, the Global Financial Crisis, and for endogeneity.
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Cites
Measuring Economic Policy Uncertainty*
Baker, S. R., Bloom, N., & Davis, S. J. (2016) · The Quarterly Journal of Economics · doi:10.1093/qje/qjw024 · Cited by 12,458
Financial intermediation and delegated monitoring
Diamond, D. W. (1984) · The Review of Economic Studies · doi:10.2307/2297430 · Cited by 8,476
Bank governance, regulation and risk taking
Laeven, L. A., & Levine, R. E. (2008) · Cited by 3,269
Allen, F., & Gale, D. (2000) · Journal of Political Economy · doi:10.1086/262109 · Cited by 3,186
Liberalization, Moral Hazard in Banking, and Prudential Regulation: Are Capital Requirements Enough?
Hellmann, T. F., Murdock, K. C., & Stiglitz, J. E. (2000) · American Economic Review · doi:10.1257/aer.90.1.147 · Cited by 2,088
Bank concentration, competition, and crises: First results
Beck, T., Demirgüç-Kunt, A., & Levine, R. (2006) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2005.05.010 · Cited by 1,411
The impact of inflation on financial sector performance
Boyd, J. H., Levine, R., & Smith, B. D. (2001) · Journal of Monetary Economics · doi:10.1016/s0304-3932(01)00049-6 · Cited by 1,201
Competition and Financial Stability
Allen, F., & Gale, D. (2004) · Journal of Money, Credit, and Banking · doi:10.1353/mcb.2004.0038 · Cited by 1,137
Creditor rights, information sharing, and bank risk taking
Houston, J. F., Lin, C., Lin, P., & Ma, Y. (2010) · Journal of Financial Economics · doi:10.1016/j.jfineco.2010.02.008 · Cited by 955
Capital requirements, market power, and risk-taking in banking
Repullo, R. (2004) · Journal of Financial Intermediation · doi:10.1016/j.jfi.2003.08.005 · Cited by 938
Cited by
Varieties in state capitalism and corporate innovation: Evidence from an emerging economy
Lin, Y., Fu, X., & Fu, X. (2021) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2021.101919 · Cited by 359
Metadata
- Authors
- Phan, D. H. B., Iyke, B. N., Sharma, S. S., & Affandi, Y.
- Venue
- Economic Modelling
- Publisher
- Elsevier BV
- Published
- 2021-01
- Volume
- 94
- Pages
- 1018-1029
- ISSN
- 0264-9993 (ISSN-L)
- OpenAlex
- W3007620667
- Cited by
- 367
- References
- 42
- FWCI
- 34.91
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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