Financial stability, competitiveness and banks' innovation capacity: Evidence from the Global Financial Crisis
Articolo
Data di Pubblicazione:
2018
Citazione:
Financial stability, competitiveness and banks' innovation capacity: Evidence from the Global Financial Crisis / M. Degl'Innocenti, K. Grant, A. Šević, N.G. Tzeremes. - In: INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS. - ISSN 1873-8079. - 59(2018), pp. 35-46. [10.1016/j.irfa.2018.07.009]
Abstract:
This paper provides nuanced evidence on the effect of competitiveness and financial stability on banks' innovation-capacity (technological-change) levels during the Global Financial Crisis (GFC) in 2007-2008. We applied contemporary developments in non-parametric frontier analysis, employing a new index, the Global Financial Centres Index, to measure the business competitiveness of 45 financial centres. Our findings indicated a nonlinear and positive relationship between financial centres' competitiveness, banks' stability and innovation-capacity levels. This suggests that banks' ability to increase stability alongside financial centres' stability in a highly competitive environment acts as a protective measure against the GFC's negative effects.
Tipologia IRIS:
01 - Articolo su periodico
Keywords:
Global Financial Crisis; Financial centres; Innovation capacity; Non-parametric frontier analysis
Elenco autori:
M. Degl'Innocenti, K. Grant, A. Šević, N.G. Tzeremes
Link alla scheda completa: