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Bank Capital Redux: Solvency, Liquidity, and Crisis

机译:银行资本冗余:偿付能力,流动性和危机

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What is the relationship between bank capital, the risk of a financial crisis, and its severity? This article introduces the first comprehensive analysis of the long-run evolution of the capital structure of modern banking using newly constructed data for banks' balance sheets in 17 countries since 1870. In addition to establishing stylized facts on the changing funding mix of banks, we study the nexus between capital structure and financial instability. We find no association between higher capital and lower risk of banking crisis. However, economies with better capitalized banking systems recover faster from financial crises as credit begins to flow back more readily.
机译:银行资本、金融危机风险及其严重程度之间的关系是什么?本文首次利用1870年以来17个国家银行资产负债表的新数据,对现代银行资本结构的长期演变进行了全面分析。除了建立有关银行不断变化的资金结构的程式化事实,我们还研究了资本结构和金融不稳定之间的关系。我们发现高资本和低银行危机风险之间没有关联。然而,随着信贷开始更容易回流,银行系统资本化程度更高的经济体从金融危机中恢复得更快。

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