Arbeitspapier
Regulatory Arbitrage and the Efficiency of Banking Regulation
We study the efficiency of banking regulation under financial integration. Banks freely choose the jurisdiction where to locate their activities and have private information about their efficiency level. Regulators non-cooperatively offer any regulatory contract that satisfies information and participation constraints of banks. We show that the unique Nash equilibrium of the regulatory game is a simple pooling contract: financial integration is characterized by the inability for regulators to discriminate between banks with different efficiency levels. This result is driven by the endogenous restriction caused by regulatory arbitrage on the capacity of regulators to use several regulatory instruments.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 5878
- Klassifikation
-
Wirtschaft
Noncooperative Games
Asymmetric and Private Information; Mechanism Design
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Financial Institutions and Services: Government Policy and Regulation
- Thema
-
regulatory arbitrage
banking regulation
regulatory competition
financial integration
asymmetric information
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Boyer, Pierre C.
Kempf, Hubert
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2016
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Boyer, Pierre C.
- Kempf, Hubert
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2016
Ähnliche Objekte (12)
Foreign investment, regulatory arbitrage, and the risk of U.S. banking organizations
Is Medicines Parallel Trade "Regulatory Arbitrage'"?
Uneven regulatory treatment of different funded positions: Regulatory arbitrage opportunity
Reforming the Regulatory Treatment of Sovereign Exposures in Banking Regulation
It's the tail-risk, stupid! Precluding regulatory arbitrage in shadow banking with a normatively charged approach to supervision capitalizing on multipolar regulatory dialogues
Regulation's influence on EU banking efficiency: An evaluation post crisis
It’s the tail-risk, stupid! : precluding regulatory arbitrage in shadow banking with a normatively charged approach to supervision capitalizing on multipolar regulatory dialogues
The case for a normatively charged approach to regulating shadow banking : multipolar regulatory dialogues as a means to detect tail risks and preclude regulatory arbitrage
The Case for a Normatively Charged Approach to Regulating Shadow Banking - Multipolar Regulatory Dialogues as a Means to Detect Tail Risks and Preclude Regulatory Arbitrage
The International Monetary System, 1844-1870: Arbitrage, Efficiency, Liquidity
Regulatory Corridors. The Reasons Behind Complexity in International and European Banking Regulation Accords
Why the initial regulation of financial innovations is decisive: Regulatory arbitrage and off-balance-sheet leasing in Germany
Foreign investment, regulatory arbitrage, and the risk of U.S. banking organizations
Is Medicines Parallel Trade "Regulatory Arbitrage'"?
Uneven regulatory treatment of different funded positions: Regulatory arbitrage opportunity
Reforming the Regulatory Treatment of Sovereign Exposures in Banking Regulation
It's the tail-risk, stupid! Precluding regulatory arbitrage in shadow banking with a normatively charged approach to supervision capitalizing on multipolar regulatory dialogues
Regulation's influence on EU banking efficiency: An evaluation post crisis
It’s the tail-risk, stupid! : precluding regulatory arbitrage in shadow banking with a normatively charged approach to supervision capitalizing on multipolar regulatory dialogues
The case for a normatively charged approach to regulating shadow banking : multipolar regulatory dialogues as a means to detect tail risks and preclude regulatory arbitrage
The Case for a Normatively Charged Approach to Regulating Shadow Banking - Multipolar Regulatory Dialogues as a Means to Detect Tail Risks and Preclude Regulatory Arbitrage
The International Monetary System, 1844-1870: Arbitrage, Efficiency, Liquidity
Regulatory Corridors. The Reasons Behind Complexity in International and European Banking Regulation Accords
Why the initial regulation of financial innovations is decisive: Regulatory arbitrage and off-balance-sheet leasing in Germany
Foreign investment, regulatory arbitrage, and the risk of U.S. banking organizations
Is Medicines Parallel Trade "Regulatory Arbitrage'"?
Uneven regulatory treatment of different funded positions: Regulatory arbitrage opportunity
Reforming the Regulatory Treatment of Sovereign Exposures in Banking Regulation
It's the tail-risk, stupid! Precluding regulatory arbitrage in shadow banking with a normatively charged approach to supervision capitalizing on multipolar regulatory dialogues
Regulation's influence on EU banking efficiency: An evaluation post crisis
It’s the tail-risk, stupid! : precluding regulatory arbitrage in shadow banking with a normatively charged approach to supervision capitalizing on multipolar regulatory dialogues
The case for a normatively charged approach to regulating shadow banking : multipolar regulatory dialogues as a means to detect tail risks and preclude regulatory arbitrage
The Case for a Normatively Charged Approach to Regulating Shadow Banking - Multipolar Regulatory Dialogues as a Means to Detect Tail Risks and Preclude Regulatory Arbitrage
The International Monetary System, 1844-1870: Arbitrage, Efficiency, Liquidity
Regulatory Corridors. The Reasons Behind Complexity in International and European Banking Regulation Accords