What drives the growth of shadow banks? Evidence from emerging markets

Dhulika Arora and Smita Kashiramka

Emerging Markets Review, 2023, vol. 54, issue C

Abstract: The present study analyses the factors affecting the growth of Non-Banking Financial Institutions (NBFI) and finance companies in 11 emerging market economies (EMEs) that the FSB monitors. Using data for the period 2002 to 2019 and employing the panel corrected standard errors (PCSE) method, the results indicate that the growth of banks, search for yield, demand from institutional investors, and bank regulations are the key factors affecting the growth of NBFI.

Keywords: NBFI; Global financial crisis; Monetary policy; PCSE; FSB (search for similar items in EconPapers)
JEL-codes: E52 G01 G23 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ememar:v:54:y:2023:i:c:s1566014122001108

DOI: 10.1016/j.ememar.2022.100993

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