Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 林晨教授 (金融学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1111/j.1540-6261.2012.01774.x |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/33WOS source URL
其它资讯
摘要We study whether cross-country differences in regulations have affected international bank flows. We find strong evidence that banks have transferred funds to markets with fewer regulations. This form of regulatory arbitrage suggests there may be a destructive race to the bottom in global regulations, which restricts domestic regulators ability to limit bank risk-taking. However, we also find that the links between regulation differences and bank flows are significantly stronger if the recipient country is a developed country with strong property rights and creditor rights. This suggests that, while differences in regulations have important influences, without a strong institutional environment, lax regulations are not enough to encourage massive capital flows.
着者Houston JF, Lin C, Ma Y
期刊名称JOURNAL OF FINANCE
出版年份2012
月份10
日期1
卷号67
期次5
出版社WILEY-BLACKWELL
页次1845 - 1895
国际标準期刊号0022-1082
电子国际标準期刊号1540-6261
语言英式英语
Web of Science 学科类别Business & Economics; Business, Finance; BUSINESS, FINANCE; Economics; ECONOMICS
