Shadow banking, insurance and financial sector stability
| Author | Diallo, Boubacar |
| Author | Al-Mansour, Abdullah |
| Available date | 2020-08-27T12:05:51Z |
| Publication Date | 2017 |
| Publication Name | Research in International Business and Finance |
| Resource | Scopus |
| ISSN | 2755319 |
| Abstract | Motivated by the recent financial crisis and the near collapse of the insurance giant American International Group (AIG), we empirically study the link between the insurance sector, the size of the shadow system and financial stability across countries. Using the Z-score as a measure of financial stability and the ratio of insurance assets to GDP for 26 countries during the period 1998–2011, this paper shows that: (i) the insurance sector is negatively and significantly related to financial stability, and that (ii) using the shadow banking system as a channel, the insurance sector is detrimental to financial stability for countries with a high level of shadow banking assets. |
| Sponsor | We wish to thank the Deanship of Research (DSR) at KFUPM for providing with us research support under the Grant IN161041. We also thank an anonymous referee and the editor for their helpful comments. |
| Language | en |
| Publisher | Elsevier Ltd |
| Subject | Financial stability Insurance Shadow banking |
| Type | Article |
| Pagination | 224-232 |
| Volume Number | 42 |
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