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Essays on bank capital, macroeconomic activity and financial deepening.

机译：关于银行资本，宏观经济活动和金融深化的论文。

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This dissertation consists of three essays on banking. The first two chapters analyze, theoretically and empirically, the relationship between bank capital and macroeconomic activity. The third chapter addresses a policy question about financial deepening in some emerging market economies.;The first chapter develops a dynamic stochastic general equilibrium model to examine the impact of macroprudential regulation on the bank's financial decisions and the implications for the real sector. It explicitly incorporates costs and benefits of capital requirements. We model an occasionally binding capital constraint and approximate it using an asymmetric nonlinear penalty function. It is seen that higher capital requirements can dampen business cycle fluctuations and stronger regulation can induce banks to hold buffers and hence mitigate an economic downturn. We also see that higher capital requirements can enhance the welfare of the economy as a whole. Lastly, we find that switching to a counter- cyclical capital requirement regime can help moderate business cycle fluctuations and raise welfare.;The second chapter empirically evaluates the impact of bank capital on lending patterns using an innovative instrumenting strategy. We construct an unbalanced quarterly panel of around nine thousand commercial banks over sixty quarters, from 1996 to 2010. Using different measures of capital, we find a moderate relationship between bank equity and lending. The relationship is also found to differ by size. The bigger banks have a greater responsiveness of lending to capital than smaller ones.;The third chapter evaluates financial deepening in the West African Economic and Monetary Union (WAEMU) and compares their performance with other top performers in Africa. First, we use an unbalanced panel of 16 countries and 158 banks and document some key areas that need immediate policy attention. Next, we use the financial possibility frontier methodology to benchmark the performance of some important economies in our sample, with respect to each other and their estimated potential. We find that the WAEMU countries perform poorly compared to the control group and their own estimated potential. We make policy recommendations to solve this problem and increase financial depth.

机译：本文由三篇关于银行业的论文组成。前两章从理论和经验上分析了银行资本与宏观经济活动之间的关系。第三章探讨了有关一些新兴市场经济体金融深化的政策问题。第一章建立了动态随机一般均衡模型，以检验宏观审慎监管对银行财务决策的影响及其对实体行业的影响。它明确包含了资本要求的成本和收益。我们对偶发性约束资本约束建模，并使用非对称非线性罚函数对其进行近似。可以看出，更高的资本要求可以缓解商业周期的波动，而更严格的监管则可以促使银行保持缓冲，从而缓解经济下滑的状况。我们还看到，更高的资本要求可以提高整个经济的福利。最后，我们发现转向反周期性的资本需求机制可以帮助缓解商业周期的波动并提高福利。第二章使用创新的工具策略，实证评估了银行资本对贷款模式的影响。从1996年到2010年，我们构建了一个不平衡的季度面板，由60个季度中的大约9000家商业银行组成。使用不同的资本计量方法，我们发现银行股权与贷款之间存在适度的关系。还发现该关系在大小上有所不同。规模较大的银行比规模较小的银行对资本的反应更大。;第三章评估了西非经济和货币联盟（WAEMU）的金融深化，并将其与非洲其他表现最好的银行进行了比较。首先，我们使用由16个国家和158家银行组成的不平衡小组，并记录一些需要立即引起政策关注的关键领域。接下来，我们使用财务可能性前沿方法对我们样本中某些重要经济体的绩效以及相互之间的估计潜力进行基准测试。我们发现，西非经货联盟国家与对照组和它们自己的估计潜力相比，表现较差。我们提出政策建议来解决此问题并增加财务深度。

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作者
Karmakar, Sudipto.;
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作者单位

Boston University.;

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授予单位 Boston University.;
学科 Economics Theory.;Economics General.;Business Administration Banking.
学位 Ph.D.
年度 2013
页码 111 p.
总页数 111
原文格式 PDF
正文语种 eng
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Essays on bank capital, macroeconomic activity and financial deepening.

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