Securitization of assets and risk transfer in a large emerging market: Evidence from Brazil

Helder de Mendonça () and Vívian Íris Barcelos

Bulletin of Economic Research, 2021, vol. 73, issue 4, 580-605

Abstract: This study analyzes the impact of securitization on the soundness of financial institutions through the two main securitization products in Brazil: Credit Rights Investment Funds (FIDC) and Real Estate Receivables Certificates (CRI). On the basis of a panel data analysis regarding 92 financial institutions from 2003 to 2016, we performed several regressions for different samples and methods. The findings suggest that securitization may increase the insolvency risk. In particular, we observe that the effect on the insolvency risk caused by securitization from CRI operations is higher than from FIDC operations.

Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/boer.12267

Related works:
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:bla:buecrs:v:73:y:2021:i:4:p:580-605

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0307-3378

Access Statistics for this article

More articles in Bulletin of Economic Research from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().