 How does central bank transparency affect systemic risk? Evidence from developed and developing countriesXiaoming Zhang, Qian Liang and Chien-Chiang Lee () The Quarterly Review of Economics and Finance, 2023, vol. 88, issue C, 101-115 Abstract: This research explores the effects of central bank transparency on systemic risk by taking 1780 commercial banks in 50 countries during 2006–2015 as samples and also discusses whether central bank independence can also influence those effects on systemic risk. The results of the least square method (OLS) and the dynamic panel System Generalized Method of Moments (S-GMM) show that central bank transparency has a non-linear effect on systemic risk in both developed and developing countries. The difference is that central bank transparency has a positive U-shape impact on systemic risk in developed countries and an inverted U-shape impact on systemic risk in developing countries. For both types of countries, improving central bank independence can reduce the effect of central bank transparency on systemic risk. Keywords: Central bank transparency; Systemic risk; CoVaR; Developing countries; Developed countries (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:quaeco:v:88:y:2023:i:c:p:101-115 DOI: 10.1016/j.qref.2022.12.005 Access Statistics for this article The Quarterly Review of Economics and Finance is currently edited by R. J. Arnould and J. E. Finnerty More articles in The Quarterly Review of Economics and Finance from Elsevier |
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