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Lights on the Shadows: Exploring the Need for Regulation in Shadow Banking

Posted: 30 Apr 2018

See all articles by Marina Brogi

Marina Brogi

University of Rome I - Dipartimento Banche Assicurazioni Mercati

Valentina Lagasio

Sapienza University

Date Written: October 31, 2017

Abstract

Using an instrument-based definition of shadow banking, we investigate the size and evolution over time of the shadow banking system. We investigate data on Asset Backed Commercial Paper and Securitized Real Estate Loan with an original approach. By means of several advanced and refined econometric tests, we explore time series data and find a non-stationary trend. This provides support for the need to regulate shadow banking. Further policy implications are discussed in detail.

Keywords: shadow banking system; financial intermediation; Asset Backed Commercial Paper; Securitized Real Estate Loan; time series analysis

JEL Classification: E51, F34, G01, G21, G23

Suggested Citation

Brogi, Marina and Lagasio, Valentina, Lights on the Shadows: Exploring the Need for Regulation in Shadow Banking (October 31, 2017). Available at SSRN: https://ssrn.com/abstract=3160569 or http://dx.doi.org/10.2139/ssrn.3160569

Marina Brogi

University of Rome I - Dipartimento Banche Assicurazioni Mercati ( email )

Rome
Italy

Valentina Lagasio (Contact Author)

Sapienza University ( email )

Via del Castro Laurenziano, 9
Rome, 00185
Italy

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