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首页> 外文学位 >Pooling versus separating regulation: The performance of banks and microfinance in Bolivia under systemic shocks.
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Pooling versus separating regulation: The performance of banks and microfinance in Bolivia under systemic shocks.

机译：集中监管与分离监管：系统性冲击下玻利维亚银行和小额信贷的表现。

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摘要

Bank superintendents implement prudential regulation that simultaneously seeks protection of the stability and solvency of financial intermediaries and several dimensions of financial deepening. If they use only one instrument, a given level of safety is achieved at the expense of some intermediation. The question addressed by this dissertation are the excessive losses of intermediation efficiency from a single, uniform (pooling) regulation, which treated loan portfolios built with a traditional banking technology or with a microfinance technology as if they carried the same risk profile. Given significant differences between the two lending technologies, in their ability to match their clienteles and to recognize different risks, a differentiated (separating) set of prudential norms would contribute more to the dual goals of stability as well as financial deepening and breadth of outreach. This task is specially challenging in developing countries exposed to frequent systemic shocks.;The dissertation develops a simple theoretical framework to guide regulators about the welfare shortcomings of pooling regulatin, compared to separating regulation. If the risk profiles of the portfolios are different, different prudential norms should be applied. The problem for the regulator, however, is incomplete information about these risk profiles and the high costs of overcoming the information imperfections about their characteristics. Given high operational costs, the regulator must determine if the efficiency losses from not differentiating justify the development of a separating regulaton.;To illustrate the issues, the dissertation discusses in detail the experience of Bolivia with the emergence of a competitive and successful regulated an non-regulated set of microfinance institutions. Relying heavily on innovation, these institutions have achieved exceptional financial performance (growth, profitability, and low default indicators), even during adverse systemic shocks, in contrast to banks. The regulators are puzzled by this heterogeneous performance and the dissertation offers a framework to guide their efforts. The actual experience of Bolivia indicates that the differences are important enough for the authorities to seriously address the operational costs of a separating framework. It further suggests dimensions of different risk profiles that should be taken into account by the authorities, in order to accomplish the double goal of efficiency and stability.
机译：银行监管人实施审慎监管，同时寻求保护金融中介机构的稳定性和偿付能力以及金融深化的多个方面。如果他们仅使用一种仪器，则以一定程度的中介为代价可以达到给定的安全级别。本文所要解决的问题是，单一，统一（合并）的监管制度对中介效率的过度损失，该监管制度将使用传统银行技术或小额信贷技术建立的贷款组合视为具有相同风险特征。鉴于这两种贷款技术之间的显着差异，即它们在匹配客户和识别不同风险的能力方面，一套有区别的（分开的）审慎规范将为实现稳定性以及财务深度和拓展范围的双重目标做出更多贡献。在面临频繁的系统性冲击的发展中国家，这一任务尤其具有挑战性。论文提出了一个简单的理论框架，以指导监管者关于与分离监管相比，合并监管当局的福利缺陷。如果投资组合的风险状况不同，则应采用不同的审慎规范。然而，对于监管者而言，问题在于有关这些风险状况的信息不完整，以及克服有关其特征的信息缺陷的高昂成本。考虑到高昂的运营成本，监管机构必须确定是否因不区分差异而产生的效率损失是否足以证明制定独立监管机构的合理性。为说明这些问题，本文详细讨论了玻利维亚的经验，以及竞争性和成功监管的非监管机构的出现。 -受监管的小额信贷机构集合。与银行相比，即使在不利的系统性冲击期间，这些机构也高度依靠创新，取得了出色的财务业绩（增长，盈利能力和低违约指标）。监管者对这种异质的表现感到困惑，因此本文提供了指导其努力的框架。玻利维亚的实际经验表明，差异足以使当局认真解决分离框架的运营成本。它还提出了当局应考虑的不同风险状况的规模，以实现效率和稳定性的双重目标。

著录项

  • 作者

    Villafani-Ibarnegaray, Marcelo.;

  • 作者单位

    The Ohio State University.;

  • 授予单位 The Ohio State University.;
  • 学科 Economics Agricultural.;Business Administration Banking.;Sociology Social Structure and Development.
  • 学位 Ph.D.
  • 年度 2008
  • 页码 204 p.
  • 总页数 204
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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