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Government regulation and international competition in the financial sector

金融领域的政府监管和国际竞争

基本信息

批准号：
266385094
负责人：
Professor Dr. Andreas Haufler
金额：
--
依托单位：
Department of Economics
依托单位国家：
德国
项目类别：
Research Grants
财政年份：
2014
资助国家：
德国
起止时间：
2013-12-31 至 2019-12-31
项目状态：
已结题

来源：
https://gepris.dfg.de/gepris/projekt/266385094?language=en
关键词：
Government regulation international competition financial

项目摘要

This project aims to contribute to a closer integration of important issues in financial economics into the public economics literature. For this purpose, we analyze the effects of regulatory and tax policies in the financial sector in a general equilibrium setting that is typical for existing research in public economics and international trade, but that is still very rare in the financial economics literature. At the same time, we incorporate important elements from financial economics which have so far been largely neglected in the public finance literature. This concerns, in particular, the endogenous risk-taking decisions of banks and the implicit or explicit subsidization of these risks through government policies and hence taxpayers. A further important element is the international integration of capital and financial services markets, which expose national financial sectors, but also national regulatory and tax policies, to the forces of international competition. In such a framework we analyze the effects of national bank levies, capital requirements and bailout policies on different economic agents (banks, producers, consumers, taxpayers) and national welfare. We also raise issues of policy coordination. The project consists of four specific research areas, which aim to derive testable hypotheses on the effects of regulatory and tax policies for international competition in the banking sector.

该项目旨在促进金融经济学中的重要问题更紧密地融入公共经济学文献。为此，我们分析了金融部门监管和税收政策的影响，一般均衡设定是公共经济学和国际贸易现有研究的典型，但在金融经济学文献中仍然非常罕见。与此同时，我们纳入了金融经济学的重要因素，这些因素迄今为止在公共财政文献中基本上被忽视了。这特别涉及银行的内在风险承担决定以及通过政府政策和纳税人对这些风险的隐性或显性补贴。另一个重要因素是资本和金融服务市场的国际一体化，这不仅使国家金融部门，而且也使国家监管和税收政策受到国际竞争力量的影响。在这样一个框架中，我们分析了国家银行税，资本要求和救助政策对不同经济主体（银行，生产者，消费者，纳税人）和国家福利的影响。我们还提出了政策协调问题。该项目包括四个具体的研究领域，旨在得出关于监管和税收政策对银行业国际竞争的影响的可检验的假设。