Essays on banking and financial innovation

Di Gong

Research output: ThesisDoctoral Thesis

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Abstract

This dissertation consists of three chapters. Chapters 2 and 3 examine the ex-ante motivation and the ex-post impact of securitization. Departing from the traditional literature of bank-specific drivers for securitization, I investigate the tax incentive for securitization in a cross country setting. In addition, unlike the prior micro studies of the impacts of securitization, for instance, the adverse selection in the securitization market and so forth, I study the macro impact of
securitization on real economy. Another strand of my research focuses on banking regulation, especially macroprudential regulation. I am particularly interested in the fact that banks may ex-ante take risk in anticipation of regulatory forbearance in a systemic banking crisis and its implication for macroprudential regulation. Consequently, chapter 4 analyzes systemic risk-taking at banks in the presence of “too-manyto-fail” bailout guarantee. In sum, shedding light on securitization and systemic risk-taking in the banking sector, this dissertation contributes to the policy debate on bank regulation.
Original languageEnglish
QualificationDoctor of Philosophy
Awarding Institution
  • Tilburg University
Supervisors/Advisors
  • Wagner, Wolf, Promotor
  • Huizinga, Harry, Promotor
Award date3 Nov 2015
Place of PublicationTilburg
Publisher
Print ISBNs978 90 5668 458 7
Publication statusPublished - 2015

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Banking
Securitization
Financial innovation
Macroprudential regulation
Systemic risk
Risk taking
Anticipation
Adverse selection
Bailout
Tax incentives
Banking crisis
Banking regulation
Bank regulation
Forbearance
Guarantee
Banking sector

Cite this

Gong, D. (2015). Essays on banking and financial innovation. Tilburg: CentER, Center for Economic Research.
Gong, Di. / Essays on banking and financial innovation. Tilburg : CentER, Center for Economic Research, 2015. 119 p.
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Gong, D 2015, 'Essays on banking and financial innovation', Doctor of Philosophy, Tilburg University, Tilburg.

Essays on banking and financial innovation. / Gong, Di.

Tilburg : CentER, Center for Economic Research, 2015. 119 p.

Research output: ThesisDoctoral Thesis

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T1 - Essays on banking and financial innovation

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Gong D. Essays on banking and financial innovation. Tilburg: CentER, Center for Economic Research, 2015. 119 p. (CentER Dissertation Series).