Arbeitspapier
Market concentration and the likelihood of financial crises
According to theory, market concentration affects the likelihood of a financial crisis in different ways. The “concentration-stability” and the “concentrationfragility” hypotheses suggest opposing effects operating through specific channels. Using data of 160 countries for the period 1970-2007, this paper empirically tests these indirect effects of financial market structure. We set up a simultaneous system in order to jointly estimate financial stability and the relevant channel variables as endogenous variables. Our findings provide support for the assumption of channel effects in general and both the concentrationstability and the concentration-fragility hypothesis in particular. The effects are found to vary between high and low income countries.
- Sprache
-
Englisch
- Erschienen in
-
Series: Economics Working Paper Series ; No. 10/138
- Klassifikation
-
Wirtschaft
Financial Crises
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Business Fluctuations; Cycles
- Thema
-
Market Concentration
Financial Crisis
Systemic Crisis
Finanzmarktregulierung
Internationaler Finanzmarkt
Finanzkrise
Systemrisiko
Welt
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bretschger, Lucas
Kappel, Vivien
- Ereignis
-
Veröffentlichung
- (wer)
-
ETH Zurich, CER-ETH - Center of Economic Research
- (wo)
-
Zurich
- (wann)
-
2010
- DOI
-
doi:10.3929/ethz-a-006170992
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bretschger, Lucas
- Kappel, Vivien
- ETH Zurich, CER-ETH - Center of Economic Research
Entstanden
- 2010
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