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Financial sector bailouts, sovereign bailouts, and the transfer of credit risk

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dc.contributor.authorGreenwood-Nimmo, Matthew
dc.contributor.authorHuang, Jingong
dc.contributor.authorNguyenc, Viet Hoang
dc.date.accessioned2024-04-23T05:25:55Z
dc.date.issued2019
dc.date.updated2022-12-25T07:16:55Z
dc.description.abstractWe develop an empirical network model to study credit risk spillovers among a group of eighteen sovereigns and their financial sectors from 2006 to 2015. Initially a net source of credit risk, the financial sector becomes a net recipient after the 2008 financial sector bailouts in many countries. Fiscal fundamentals explain much of the heterogeneity in financial-sovereign spillovers over this period. The subsequent European sovereign bailouts disrupt the feedback between sovereign risk and local financial sector risk. Depending on the initial fiscal position of the target country, sovereign bailouts may also disrupt international credit risk spillovers originating from the target sovereign.en_AU
dc.format.mimetypeapplication/pdfen_AU
dc.identifier.issn1386-4181en_AU
dc.identifier.urihttp://hdl.handle.net/1885/317043
dc.language.isoen_AUen_AU
dc.publisherElsevieren_AU
dc.relationhttp://purl.org/au-research/grants/arc/DE150100708en_AU
dc.rights© 2018 The authorsen_AU
dc.sourceJournal of Financial Marketsen_AU
dc.subjectFinancial crisisen_AU
dc.subjectDebt crisisen_AU
dc.subjectFinancial–sovereign linkagesen_AU
dc.subjectCredit risk transmissionen_AU
dc.subjectNetwork modelingen_AU
dc.titleFinancial sector bailouts, sovereign bailouts, and the transfer of credit risken_AU
dc.typeJournal articleen_AU
local.bibliographicCitation.lastpage142en_AU
local.bibliographicCitation.startpage121en_AU
local.contributor.affiliationGreenwood-Nimmo, Matthew, College of Asia and the Pacific, ANUen_AU
local.contributor.affiliationHuang, Jingong, University of Nottingham Ningbo Chinaen_AU
local.contributor.affiliationNguyenc, Viet Hoang, University of Melbourneen_AU
local.contributor.authoruidGreenwood-Nimmo, Matthew, t1991en_AU
local.description.embargo2099-12-31
local.description.notesImported from ARIESen_AU
local.identifier.absfor380107 - Financial economicsen_AU
local.identifier.absseo150299 - Macroeconomics not elsewhere classifieden_AU
local.identifier.ariespublicationu3102795xPUB530en_AU
local.identifier.citationvolume42en_AU
local.identifier.doi10.1016/j.finmar.2018.11.001en_AU
local.identifier.scopusID2-s2.0-85058613508
local.identifier.thomsonIDWOS:000458345500006
local.publisher.urlhttps://www.sciencedirect.com/en_AU
local.type.statusPublished Versionen_AU

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