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首页> 外文期刊>Journal of Financial and Quantitative Analysis >The Effects of Government Interventions in the Financial Sector on Banking Competition and the Evolution of Zombie Banks
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The Effects of Government Interventions in the Financial Sector on Banking Competition and the Evolution of Zombie Banks

机译：政府对金融部门的干预对银行业竞争和僵尸银行演变的影响

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摘要

We investigate how government interventions such as blanket guarantees, liquidity support, recapitalizations, and nationalizations affect banking competition. These issues are critical for stability, access to finance, and economic growth. Exploiting cross-country and cross-time variation in the timing of interventions and accounting for their nonrandomness, we document that liquidity support, recapitalizations, and nationalizations trigger large increases in competition. We also find some more nuanced evidence that zombie banks' market shares in crisis countries evolve together with interventions. A higher frequency of interventions coincides with greater zombie bank presence, and increases in competition are larger when zombie banks occupy bigger market shares.
机译：我们调查了政府的干预措施，例如全面担保，流动性支持，资本重组和国有化，如何影响银行竞争。这些问题对于稳定，获得融资和经济增长至关重要。利用干预时间安排中的跨国和跨时间变化并考虑其非随机性，我们证明流动性支持，资本重组和国有化会引发竞争的大幅度增长。我们还发现了一些更细微的证据，表明僵尸银行在危机国家的市场份额随着干预措施的发展而变化。较高的干预频率与更大的僵尸银行存在率相吻合，而当僵尸银行占据更大的市场份额时，竞争的增加也更大。

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