Capital Inflows and Banking Stability
Project/Area Number |
26780123
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Research Category |
Grant-in-Aid for Young Scientists (B)
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Allocation Type | Multi-year Fund |
Research Field |
Economic theory
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Research Institution | Tokyo Metropolitan University |
Principal Investigator |
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Project Period (FY) |
2014-04-01 – 2017-03-31
|
Project Status |
Completed (Fiscal Year 2016)
|
Budget Amount *help |
¥3,250,000 (Direct Cost: ¥2,500,000、Indirect Cost: ¥750,000)
Fiscal Year 2016: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2015: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2014: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
|
Keywords | 金融危機 / 資本流入 / 流動性 / 銀行危機 / 資産価格 / 金融伝播 / 金融自由化 / 資産市場 |
Outline of Final Research Achievements |
My research presents and analyzes a simple banking model in which banks have access to international capital markets and domestic asset markets. The model generates two types of equilibria: a no-default equilibrium and a mixed equilibrium. In the no-default equilibrium, all banks are symmetric and always solvent, while in the mixed equilibrium, some banks can be internationally illiquid and default simultaneously. The latter equilibrium captures the basic features of banking crises after financial liberalization in emerging market economies. In this case, a large capital inflow leads to high asset-price volatility and magnifies a banking crisis. The effects of various public policies are also examined.
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Report
(4 results)
Research Products
(14 results)