Intra-financial assets and the intermediation role of the financial sector

Daniel Carvalho

Economic Papers from Trinity College Dublin, Economics Department

Abstract: This paper provides two main contributions. First, it proposes a measure of intra-financial assets, i.e., financial assets within the financial sectors, and documents the rapid growth of these claims in European countries. Second, it looks at the relationship of total and intra-financial assets of banks and non-banks and credit provided to the non-financial sectors. Results show that while total assets of both banks and non-banks are strongly associated with loans to non-financial corporations and households, intra-financial assets of banks are associated with loans to non-financial corporations only and intra-financial assets of non-banks with loans to households.

Keywords: Banksandnon-banksinterconnectedness; credit; finance-growthnexus (search for similar items in EconPapers)
JEL-codes: F36 G10 G21 G23 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2022-12
New Economics Papers: this item is included in nep-ban, nep-eec and nep-fdg
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Persistent link: https://EconPapers.repec.org/RePEc:tcd:tcduee:tep0622

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