Incentive Conflict in Central Bank Responses to Sectoral Turmoil in Financial Hub Countries

Edward Kane

Chapter 9 in Globalization and Systemic Risk, 2009, pp 121-144 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:Understanding National Safety Nets and How Weakly They are LinkedComponents of national netsTissue connecting national nets in open economiesIncentive Conflicts Built into National Regulatory CulturesDimensions of regulatory cultureImportance of transparency and deterrencyWhat if monitoring and policing costs were zero?Global and National Incentive Conflicts in Safety Net ManagementWhat countries manage the global safety net?Differences in hub-country culturesRepurchase agreement as particularly opaque last resort loansHow repurchase agreements substitute for discount-window loansWhere Implicit Subsidies Originate: The Political Economy of Last Resort LendingPolicy ImplicationsSummary ImplicationsReferences

Keywords: Globalization; Banking; Financial Markets; Systemic Risk; Financial Crisis; Contagion (search for similar items in EconPapers)
Date: 2009
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789812833389_0009 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789812833389_0009 (text/html)
Ebook Access is available upon purchase.

Related works:
Working Paper: Incentive Conflict In Central-Bank Responses to Sectoral Turmoil in Financial Hub Countries (2007)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789812833389_0009

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().