The Impact of the Two-pillar Regulatory Framework on the Effectiveness of Shadow Banking Supervision
DOI:
https://doi.org/10.64051/jhn.v1i3.62Keywords:
Shadow Banking, Dual-Pillar Regulatory Framework, VAR, Monetary Policy, MPAAbstract
Shadow banking has become the main factor of systemic financial risk contagion. Currently, the regulatory authorities have strengthened the supervision of shadow banking under the framework of dual-pillar regulation and control, but there are still few empirical analyses on the effect of supervision in the academic circle. Through the establishment of vector autoregressive model (VAR), this paper conducts an empirical analysis on the effectiveness of shadow banking regulation under the dual-pillar regulatory framework. The results show that the effect of shadow banking supervision under the dual-pillar regulatory framework is better than that of monetary policy alone.
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