Essays on banking, financial intermediation and financial markets

Miguel Sarmiento Paipilla

Research output: ThesisDoctoral ThesisScientific

23 Downloads (Pure)

Abstract

Banks interact across different markets in order to diversify their risk exposure and to obtain funding from alternative sources. While this can increase bank efficiency and alleviate financial intermediation costs, it makes more difficult the effective regulation and supervision of banks and can expose them to liquidity shocks and contagion risk, as evidenced during the Global Financial Crisis of 2007-08. This Ph.D. dissertation consists of four chapters on banking, financial intermediation, and financial markets. The main objective of the thesis is to analyze the behavior of banks across different financial markets, and to explore the role of risk-taking, regulation, and liquidity shocks. Chapter 2 proposes an alternative approach to study the allocation of central bank liquidity among the participants of the unsecured interbank market. Chapter 3 examines the heterogeneous effects of risk-taking on bank efficiency. Chapter 4 evaluates the impact of idiosyncratic and aggregate liquidity shocks on the access and pricing of liquidity in the unsecured interbank funds market. Lastly, chapter 5 analyses the determinants of loan pricing in the cross-border syndicated market and the potential de-risking role of multilateral development banks.
Original languageEnglish
QualificationDoctor of Philosophy
Awarding Institution
  • Tilburg University
Supervisors/Advisors
  • Huizinga, Harry, Promotor
  • De Jonghe, Olivier, Co-promotor
Award date26 Jun 2019
Place of Publicationtilburg
Publisher
Print ISBNs978 90 5668 595 9
Publication statusPublished - 2019

Fingerprint

Financial markets
Financial intermediation
Banking
Liquidity shocks
Liquidity
Risk taking
Bank efficiency
Cross-border
Banking risk
Loan pricing
Regulation and supervision
Central bank
Funding
Global financial crisis
Risk exposure
Pricing
Costs
Interbank market

Cite this

Sarmiento Paipilla, M. (2019). Essays on banking, financial intermediation and financial markets. tilburg: CentER, Center for Economic Research.
Sarmiento Paipilla, Miguel. / Essays on banking, financial intermediation and financial markets. tilburg : CentER, Center for Economic Research, 2019. 233 p.
@phdthesis{0ad63b91b3f1432a8dfd443f2112474c,
title = "Essays on banking, financial intermediation and financial markets",
abstract = "Banks interact across different markets in order to diversify their risk exposure and to obtain funding from alternative sources. While this can increase bank efficiency and alleviate financial intermediation costs, it makes more difficult the effective regulation and supervision of banks and can expose them to liquidity shocks and contagion risk, as evidenced during the Global Financial Crisis of 2007-08. This Ph.D. dissertation consists of four chapters on banking, financial intermediation, and financial markets. The main objective of the thesis is to analyze the behavior of banks across different financial markets, and to explore the role of risk-taking, regulation, and liquidity shocks. Chapter 2 proposes an alternative approach to study the allocation of central bank liquidity among the participants of the unsecured interbank market. Chapter 3 examines the heterogeneous effects of risk-taking on bank efficiency. Chapter 4 evaluates the impact of idiosyncratic and aggregate liquidity shocks on the access and pricing of liquidity in the unsecured interbank funds market. Lastly, chapter 5 analyses the determinants of loan pricing in the cross-border syndicated market and the potential de-risking role of multilateral development banks.",
author = "{Sarmiento Paipilla}, Miguel",
note = "CentER Dissertation Series Volume: 594",
year = "2019",
language = "English",
isbn = "978 90 5668 595 9",
volume = "594",
series = "CentER Dissertation Series",
publisher = "CentER, Center for Economic Research",
school = "Tilburg University",

}

Sarmiento Paipilla, M 2019, 'Essays on banking, financial intermediation and financial markets', Doctor of Philosophy, Tilburg University, tilburg.

Essays on banking, financial intermediation and financial markets. / Sarmiento Paipilla, Miguel.

tilburg : CentER, Center for Economic Research, 2019. 233 p.

Research output: ThesisDoctoral ThesisScientific

TY - THES

T1 - Essays on banking, financial intermediation and financial markets

AU - Sarmiento Paipilla, Miguel

N1 - CentER Dissertation Series Volume: 594

PY - 2019

Y1 - 2019

N2 - Banks interact across different markets in order to diversify their risk exposure and to obtain funding from alternative sources. While this can increase bank efficiency and alleviate financial intermediation costs, it makes more difficult the effective regulation and supervision of banks and can expose them to liquidity shocks and contagion risk, as evidenced during the Global Financial Crisis of 2007-08. This Ph.D. dissertation consists of four chapters on banking, financial intermediation, and financial markets. The main objective of the thesis is to analyze the behavior of banks across different financial markets, and to explore the role of risk-taking, regulation, and liquidity shocks. Chapter 2 proposes an alternative approach to study the allocation of central bank liquidity among the participants of the unsecured interbank market. Chapter 3 examines the heterogeneous effects of risk-taking on bank efficiency. Chapter 4 evaluates the impact of idiosyncratic and aggregate liquidity shocks on the access and pricing of liquidity in the unsecured interbank funds market. Lastly, chapter 5 analyses the determinants of loan pricing in the cross-border syndicated market and the potential de-risking role of multilateral development banks.

AB - Banks interact across different markets in order to diversify their risk exposure and to obtain funding from alternative sources. While this can increase bank efficiency and alleviate financial intermediation costs, it makes more difficult the effective regulation and supervision of banks and can expose them to liquidity shocks and contagion risk, as evidenced during the Global Financial Crisis of 2007-08. This Ph.D. dissertation consists of four chapters on banking, financial intermediation, and financial markets. The main objective of the thesis is to analyze the behavior of banks across different financial markets, and to explore the role of risk-taking, regulation, and liquidity shocks. Chapter 2 proposes an alternative approach to study the allocation of central bank liquidity among the participants of the unsecured interbank market. Chapter 3 examines the heterogeneous effects of risk-taking on bank efficiency. Chapter 4 evaluates the impact of idiosyncratic and aggregate liquidity shocks on the access and pricing of liquidity in the unsecured interbank funds market. Lastly, chapter 5 analyses the determinants of loan pricing in the cross-border syndicated market and the potential de-risking role of multilateral development banks.

M3 - Doctoral Thesis

SN - 978 90 5668 595 9

VL - 594

T3 - CentER Dissertation Series

PB - CentER, Center for Economic Research

CY - tilburg

ER -

Sarmiento Paipilla M. Essays on banking, financial intermediation and financial markets. tilburg: CentER, Center for Economic Research, 2019. 233 p. (CentER Dissertation Series).