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On dividend restrictions and the collapse of the interbank market
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Goodhart, C. A. E., Peiris, Udara, Tsomocos, D. P. and Vardoulakis, A. P.. (2010) On dividend restrictions and the collapse of the interbank market. Annals of Finance, Vol.6 (No.4). pp. 455-473. ISSN 1614-2446
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Official URL: http://dx.doi.org/10.1007/s10436-010-0147-5
Abstract
Until recently, financial services regulation remained largely segmented along national lines. The integration of financial markets, however, calls for a systematic and coherent approach to regulation. This paper studies the effect of market based regulation on the proper functioning of the interbank market. Specifically, we argue that restrictions on the payout of dividends by banks can reduce their expected default on (interbank) loans, stimulate trade in this market and improve the welfare of consumers.
| Item Type: | Journal Article |
|---|---|
| Subjects: | H Social Sciences > HG Finance |
| Divisions: | Faculty of Social Sciences > Economics |
| Journal or Publication Title: | Annals of Finance |
| Publisher: | Springer |
| ISSN: | 1614-2446 |
| Date: | 2010 |
| Volume: | Vol.6 |
| Number: | No.4 |
| Number of Pages: | 19 |
| Page Range: | pp. 455-473 |
| Identification Number: | 10.1007/s10436-010-0147-5 |
| Status: | Peer Reviewed |
| Publication Status: | Published |
| Access rights to Published version: | Restricted or Subscription Access |
| URI: | http://wrap.warwick.ac.uk/id/eprint/45279 |
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