The main goal of this study is to investigate the impact of monetary policy (MP) on the risk-taking behavior of Bangladeshi banks. It also attempts to examine the role of Basel II in the association between MP and bank risk-taking pre- and post-2010. This study analyzes data from 33 commercial banks in Bangladesh over the 20 years from 2002 to 2021 and uses the two-step system generalized method of moments to address heteroscedasticity and autocorrelation issues. Unlike previous research, this study confirms the significant effect of Basel II on the relationship between MP and banks' risk-taking behavior. The main findings are first that a non-linear U-shaped relationship exists between MP and banks' risk-taking behavior, implying that when bank rate (BR) and cash reserve ratio (CRR) increase, bank credit risk first decreases, then later increases. Second, bank-level characteristics such as liquidity, regulatory capital, and size have a significant effect on risk, whereas bank age has an insignificant effect on risk-taking behavior. Third, MP and Basel II jointly influence risk-taking so that banks take higher risks before implementing Basel II. Overall, thisstudy offers significant practical implications for academics, researchers, and regulators interested in leveraging the findings.
Citation: Changjun Zheng, Md Abdul Mannan Khan, Mohammad Morshedur Rahman, Shahed Bin Sadeque, Rabiul Islam. The impact of monetary policy on banks' risk-taking behavior in an emerging economy: The role of Basel II[J]. Data Science in Finance and Economics, 2023, 3(4): 427-451. doi: 10.3934/DSFE.2023024
The main goal of this study is to investigate the impact of monetary policy (MP) on the risk-taking behavior of Bangladeshi banks. It also attempts to examine the role of Basel II in the association between MP and bank risk-taking pre- and post-2010. This study analyzes data from 33 commercial banks in Bangladesh over the 20 years from 2002 to 2021 and uses the two-step system generalized method of moments to address heteroscedasticity and autocorrelation issues. Unlike previous research, this study confirms the significant effect of Basel II on the relationship between MP and banks' risk-taking behavior. The main findings are first that a non-linear U-shaped relationship exists between MP and banks' risk-taking behavior, implying that when bank rate (BR) and cash reserve ratio (CRR) increase, bank credit risk first decreases, then later increases. Second, bank-level characteristics such as liquidity, regulatory capital, and size have a significant effect on risk, whereas bank age has an insignificant effect on risk-taking behavior. Third, MP and Basel II jointly influence risk-taking so that banks take higher risks before implementing Basel II. Overall, thisstudy offers significant practical implications for academics, researchers, and regulators interested in leveraging the findings.
| [1] |
Acharya VV, Imbierowicz B, Steffen S, et al. (2020) Does the lack of financial stability impair the transmission of monetary policy? J Financ Econ 138: 342–365. https://doi.org/10.1016/j.jfineco.2020.06.011 doi: 10.1016/j.jfineco.2020.06.011
|
| [2] | Agur I, Demertzis M (2010) Monetary policy and excessive bank risk taking. 271. Available at SSRN http://dx.doi.org/10.2139/ssrn.1950167 |
| [3] |
Aiyar S, Calomiris CW, Hooley J, et al. (2014) The international transmission of bank capital requirements: Evidence from the UK. J Financ Econo 113: 368–382. https://doi.org/10.1016/j.jfineco.2014.05.003 doi: 10.1016/j.jfineco.2014.05.003
|
| [4] |
Aiyar S, Calomiris CW, Wieladek T (2016) How does credit supply respond to monetary policy and bank minimum capital requirements? Eur Econ Rev 82: 142–165. https://doi.org/10.1016/j.jfineco.2014.05.003 doi: 10.1016/j.jfineco.2014.05.003
|
| [5] |
Akhter N (2023) Determinants of commercial bank's non-performing loans in Bangladesh: An empirical evidence. Cogent Econ Financ 11: 2194128. https://doi.org/10.1080/23322039.2023.2194128 doi: 10.1080/23322039.2023.2194128
|
| [6] |
Al‐Tamimi HAH (2008) Implementing Basel II: an investigation of the UAE banks' Basel II preparations. J Financ Regul Compl 16: 173–187. https://doi.org/10.1108/13581980810869814 doi: 10.1108/13581980810869814
|
| [7] |
Altavilla C, Canova F, Ciccarelli M (2020) Mending the broken link: Heterogeneous bank lending rates and monetary policy pass-through. J Monetary Econ 110: 81–98. https://doi.org/10.1016/j.jmoneco.2019.01.001 doi: 10.1016/j.jmoneco.2019.01.001
|
| [8] |
Altunbas Y, Gambacorta L, Marques-Ibanez D (2012) Do bank characteristics influence the effect of monetary policy on bank risk? Econ Lett 117: 220–222. https://doi.org/10.1016/j.econlet.2012.04.106 doi: 10.1016/j.econlet.2012.04.106
|
| [9] |
Anani M, Owusu F (2023) Regulatory capital and bank risk-resilience amid the Covid-19 pandemic: How are the Basel reforms faring? Financ Res Lett 52: 103591. https://doi.org/10.1016/j.frl.2022.103591 doi: 10.1016/j.frl.2022.103591
|
| [10] |
Anwar CJ, Suhendra I, Purwanda E, et al. (2023) Investigating the relationship between monetary policy, macro-prudential policy and credit risk in Indonesia banking industry. Heliyon 9. https://doi.org/10.1016/j.heliyon.2023.e18229 doi: 10.1016/j.heliyon.2023.e18229
|
| [11] |
Arellano M, Bond S (1991) Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Rev Econ Stud 58: 277–297. https://doi.org/10.2307/2297968 doi: 10.2307/2297968
|
| [12] |
Arellano M, Bover O (1995) Another look at the instrumental variable estimation of error-components models. J Econometrics 68: 29–51. https://doi.org/10.1016/0304-4076(94)01642-d doi: 10.1016/0304-4076(94)01642-d
|
| [13] |
Avery RB, Berger AN (1991) Risk-based capital and deposit insurance reform. J Bank Financ 15: 847–874. https://doi.org/10.1016/0378-4266(91)90103-s doi: 10.1016/0378-4266(91)90103-s
|
| [14] |
Bashir U, Yugang Y, Hussain M (2020) Role of bank heterogeneity and market structure in transmitting monetary policy via bank lending channel: empirical evidence from Chinese banking sector. Post-Communist Econ 32: 1038–1061. https://doi.org/10.1080/14631377.2019.1705082 doi: 10.1080/14631377.2019.1705082
|
| [15] |
Bekaert G, Hoerova M, Duca ML (2013) Risk, uncertainty and monetary policy. J Monetary Econ 60: 771–788. https://doi.org/10.1016/j.jmoneco.2013.06.003 doi: 10.1016/j.jmoneco.2013.06.003
|
| [16] |
Berger AN, Bouwman CH (2017) Bank liquidity creation, monetary policy, and financial crises. J Financ Stabil 30: 139–155. https://doi.org/10.1016/j.jfs.2017.05.001 doi: 10.1016/j.jfs.2017.05.001
|
| [17] | Bernanke BS (2000) Japanese monetary policy: a case of self-induced paralysis? Japan's financial crisis and its parallels to US experience, 149–166. Available from: https://api.semanticscholar.org/CorpusID: 18313611. |
| [18] | Blundell R, Bond S, Windmeijer F (2001) Estimation in dynamic panel data models: improving on the performance of the standard GMM estimator, 15. Emerald Group Publishing Limited. https://doi.org/10.1920/wp.ifs.2000.0012 |
| [19] | Blunden T (2005) Global consumer initiatives: will Basel II work? Consum Policy Rev 15: 229. |
| [20] | Bond SR, Hoeffler A, Temple JR (2001) GMM estimation of empirical growth models. Available at SSRN 290522. https://doi.org/10.2139/ssrn.253866 |
| [21] |
Borio C, Zhu H (2012) Capital regulation, risk-taking and monetary policy: a missing link in the transmission mechanism? J Financ Stabil 8: 236–251. https://doi.org/10.1016/j.jfs.2011.12.003 doi: 10.1016/j.jfs.2011.12.003
|
| [22] |
Brana S, Campmas A, Lapteacru I (2019) (Un) Conventional monetary policy and bank risk-taking: A nonlinear relationship. Econ Modell 81: 576–593. https://doi.org/10.1016/j.econmod.2018.07.005 doi: 10.1016/j.econmod.2018.07.005
|
| [23] |
Bui DT, Nguyen CP, Su TD (2021) Asymmetric impacts of monetary policy and business cycles on bank risk-taking: evidence from Emerging Asian markets. J Econ Asymmetries 24: e00221. https://doi.org/10.1016/j.jeca.2021.e00221 doi: 10.1016/j.jeca.2021.e00221
|
| [24] |
Chami R, Cosimano TF (2010) Monetary policy with a touch of Basel. J Econ Bus 62: 161–175. https://doi.org/10.1016/j.jeconbus.2009.12.001 doi: 10.1016/j.jeconbus.2009.12.001
|
| [25] |
Chen M, Wu J, Jeon BN, et al. (2017) Monetary policy and bank risk-taking: Evidence from emerging economies. Emerg Mark Rev 31: 116–140. https://doi.org/10.1016/j.ememar.2017.04.001 doi: 10.1016/j.ememar.2017.04.001
|
| [26] |
Chen TY, Kao LJ (2014) Dividend changes and information about future profitability: an application of difference GMM. Applied Econ Lett 21: 505–508. https://doi.org/10.1080/13504851.2013.870648 doi: 10.1080/13504851.2013.870648
|
| [27] | Čihák M, Schaeck K (2007) How well do aggregate bank ratios identify banking problems? International Monetary Fund Washington, DC. https://doi.org/10.5089/9781451868388.001 |
| [28] |
Das Gupta A, Sarker N, Rifat Rahman M (2021) Relationship among cost of financial intermediation, risk, and efficiency: Empirical evidence from Bangladeshi commercial banks. Cogent Econ Financ 9: 1967575. https://doi.org/10.1080/23322039.2021.1967575 doi: 10.1080/23322039.2021.1967575
|
| [29] |
de Moraes CO, de Mendonça HF (2019) Bank's risk measures and monetary policy: Evidence from a large emerging economy. N Am J Econ Financ 49: 121–132. https://doi.org/10.1016/j.najef.2019.04.002 doi: 10.1016/j.najef.2019.04.002
|
| [30] |
de Moraes CO, Montes GC, Antunes JAP (2016) How does capital regulation react to monetary policy? New evidence on the risk-taking channel. Econ Model 56: 177–186. https://doi.org/10.1016/j.econmod.2016.03.025 doi: 10.1016/j.econmod.2016.03.025
|
| [31] |
Delis MD, Hasan I, Mylonidis N (2017) The risk‐taking channel of monetary policy in the US: Evidence from corporate loan data. J Money Credit Bank 49: 187–213. https://doi.org/10.1111/jmcb.12372 doi: 10.1111/jmcb.12372
|
| [32] |
Dell'Ariccia G, Laeven L, Suarez GA (2017) Bank leverage and monetary policy's risk‐taking channel: evidence from the United States. J Financ 72: 613–654. https://doi.org/10.1111/jofi.12467 doi: 10.1111/jofi.12467
|
| [33] |
Demsetz RS, Strahan PE (1997) Diversification, size, and risk at bank holding companies. J Money Credit Bank 300–313. https://doi.org/10.2307/2953695 doi: 10.2307/2953695
|
| [34] |
Djatche MJN (2019) Re-exploring the nexus between monetary policy and banks' risk-taking. Econ Model 82: 294–307. https://doi.org/10.1016/j.econmod.2019.01.016 doi: 10.1016/j.econmod.2019.01.016
|
| [35] |
ElBannan MA (2015) Do consolidation and foreign ownership affect bank risk taking in an emerging economy? An empirical investigation. Manag Financ 41: 874–907. https://doi.org/10.1108/mf-12-2013-0342 doi: 10.1108/mf-12-2013-0342
|
| [36] |
Fu B, Luo D (2021) Monetary policy uncertainty and bank leverage: Evidence from China. Econ Lett 203: 109866. https://doi.org/10.1016/j.econlet.2021.109866 doi: 10.1016/j.econlet.2021.109866
|
| [37] |
Furlong FT, Keeley MC (1989) Capital regulation and bank risk-taking: A note. J Bank Financ 13: 883–891. https://doi.org/10.1016/0378-4266(89)90008-3 doi: 10.1016/0378-4266(89)90008-3
|
| [38] |
Ge X, Liu Y, Zhuang J (2023) Monetary policy uncertainty, market structure and bank risk-taking: Evidence from China. Financ Res Lett 52: 103599. https://doi.org/10.1016/j.frl.2022.103599 doi: 10.1016/j.frl.2022.103599
|
| [39] |
Geng Z, Zhai X (2013) Monetary policy instruments and bank risks in China. Int J Asian Bus Inf Manag (IJABIM) 4: 57–71. https://doi.org/10.4018/jabim.2013040105 doi: 10.4018/jabim.2013040105
|
| [40] | Gondwe S, Gwatidzo T, Mahonye N (2022) Bank regulation and risk-taking in sub-Sahara Africa. J Financ Regul Compl (ahead-of-print). https://doi.org/10.1108/jfrc-12-2021-0104 |
| [41] |
Gopalakrishnan B, Jacob J, Mohapatra S (2021) Risk-sensitive Basel regulations and firms' access to credit: Direct and indirect effects. J Bank Financ 126: 106101. https://doi.org/10.1016/j.jbankfin.2021.106101 doi: 10.1016/j.jbankfin.2021.106101
|
| [42] | Gropp R, Heider F (2007) What can corporate finance say about banks' capital structures. Eur Central Bank Work Pap. Available from: https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1096.pdf. |
| [43] |
Hakenes H, Schnabel I (2011) Bank size and risk-taking under Basel II. J Bank Financ 35: 1436–1449. https://doi.org/10.1016/j.jbankfin.2010.10.031 doi: 10.1016/j.jbankfin.2010.10.031
|
| [44] |
Haque F (2019) Ownership, regulation and bank risk-taking: evidence from the Middle East and North Africa (MENA) region. Corp Gov-Int J Bus Soc 19: 23–43. https://doi.org/10.1108/cg-07-2017-0135 doi: 10.1108/cg-07-2017-0135
|
| [45] |
Haris M, Tan Y, Malik A, et al. (2020) A study on the impact of capitalization on the profitability of banks in emerging markets: A case of Pakistan. J Risk Financ Manag 13: 217. https://doi.org/10.3390/jrfm13090217 doi: 10.3390/jrfm13090217
|
| [46] |
Hussain M, Bashir U, Bilal AR (2021) Effect of monetary policy on bank risk: does market structure matter? Int J Emerg Mark 16: 696–725. https://doi.org/10.1108/ijoem-09-2019-0674 doi: 10.1108/ijoem-09-2019-0674
|
| [47] |
Jiang H, Yuan C (2022) Monetary policy, capital regulation and bank risk-taking: Evidence from China. J Asian Econ 82: 101512. https://doi.org/10.1016/j.asieco.2022.101512 doi: 10.1016/j.asieco.2022.101512
|
| [48] |
Jung A (2023) Are monetary policy shocks causal to bank health? Evidence from the euro area. J Macroecon 75: 103494. https://doi.org/10.1016/j.jmacro.2022.103494 doi: 10.1016/j.jmacro.2022.103494
|
| [49] |
Kabundi A, De Simone FN (2020) Monetary policy and systemic risk-taking in the euro area banking sector. Econ Model 91: 736–758. https://doi.org/10.1016/j.econmod.2019.10.020 doi: 10.1016/j.econmod.2019.10.020
|
| [50] | Kennedy P (2008) A guide to econometrics. John Wiley & Sons. Available from: https://masonlec.org/site/rte_uploads/files/Econometrics%20Book%20-%20Intro, %20Ch%201%20and%202.pdf |
| [51] |
Khan HH, Ahmad RB, Gee CS (2016) Bank competition and monetary policy transmission through the bank lending channel: Evidence from ASEAN. Int Rev Econ Financ 44: 19–39. https://doi.org/10.1016/j.iref.2016.03.003 doi: 10.1016/j.iref.2016.03.003
|
| [52] |
Khan S (2022) The impact of capital structure on bank performance in emerging markets: Empirical evidence from GCC countries. Financ Int Q 18: 56–65. https://doi.org/10.2478/fiqf-2022-0005 doi: 10.2478/fiqf-2022-0005
|
| [53] |
Mahrous SN, Samak N, Abdelsalam MAM (2020) The effect of monetary policy on credit risk: evidence from the MENA region countries. Rev Econ Polit Sci 5: 289–304. https://doi.org/10.1108/reps-07-2019-0099 doi: 10.1108/reps-07-2019-0099
|
| [54] |
Malovaná S, Kolcunová D, Brož V (2019) Does monetary policy influence banks' risk weights under the internal ratings-based approach? Econ Syst 43: 100689. https://doi.org/10.1016/j.ecosys.2018.10.003 doi: 10.1016/j.ecosys.2018.10.003
|
| [55] |
Mateev M, Moudud-Ul-Huq S, Nasr T (2021) Capital regulation and market competition in the MENA region: policy implications for banking sector stability during COVID-19 Pandemic. Glob Bus Rev 09721509211064442. https://doi.org/10.1177/09721509211064442 doi: 10.1177/09721509211064442
|
| [56] |
Mateev M, Sahyouni A, Tariq MU (2023) Bank regulation, ownership and risk taking behavior in the MENA region: policy implications for banks in emerging economies. Rev Manag Sci 17: 287–338. https://doi.org/10.1007/s11846-022-00529-5 doi: 10.1007/s11846-022-00529-5
|
| [57] |
Matthys T, Meuleman E, Vander Vennet R (2020) Unconventional monetary policy and bank risk taking. J Int Money Financ 109: 102233. https://doi.org/10.1016/j.jimonfin.2020.102233 doi: 10.1016/j.jimonfin.2020.102233
|
| [58] |
Mohammed N, Ismail AG, Muhammad J (2015) Evidence on market concentration in Malaysian dual banking system. Procedia-Soc Behav Sci 172: 169–176. https://doi.org/10.1016/j.sbspro.2015.01.351 doi: 10.1016/j.sbspro.2015.01.351
|
| [59] |
Moudud-Ul-Huq S (2021) Does bank competition matter for performance and risk-taking? Empirical evidence from BRICS countries. Int J Emerg Mark 16: 409–447. https://doi.org/10.1108/ijoem-03-2019-0197 doi: 10.1108/ijoem-03-2019-0197
|
| [60] |
Naceur SB, Marton K, Roulet C (2018) Basel III and bank-lending: Evidence from the United States and Europe. J Financ Stabil 39: 1–27. https://doi.org/10.1016/j.jfs.2018.08.002 doi: 10.1016/j.jfs.2018.08.002
|
| [61] |
Naqvi H, Pungaliya R (2023) Bank size and the transmission of monetary policy: Revisiting the lending channel. J Bank Financ 146: 106688. https://doi.org/10.1016/j.jbankfin.2022.106688 doi: 10.1016/j.jbankfin.2022.106688
|
| [62] |
Ngambou Djatche MJ (2022) Monetary policy, prudential policy and bank's risk‐taking: A literature review. J Econ Surv 36: 1559–1590. https://doi.org/10.1111/joes.12485 doi: 10.1111/joes.12485
|
| [63] |
Nguyen VHT, Boateng A (2015) An analysis of involuntary excess reserves, monetary policy and risk-taking behaviour of Chinese banks. Int Rev Financ Anal 37: 63–72. https://doi.org/10.1016/j.irfa.2014.11.013 doi: 10.1016/j.irfa.2014.11.013
|
| [64] |
Ogunmola GA, Chien F, Chau KY, et al. (2022) The Influence of Capital Requirement of Basel III Adoption on Banks' Operating Efficiency: Evidence from US Banks. J Cent Bank Theor Pr 11: 5–26. https://doi.org/10.2478/jcbtp-2022-0011 doi: 10.2478/jcbtp-2022-0011
|
| [65] |
Olivero MP, Li Y, Jeon BN (2011) Consolidation in banking and the lending channel of monetary transmission: Evidence from Asia and Latin America. J Int Money Financ 30: 1034–1054. https://doi.org/10.1016/j.jimonfin.2011.06.006 doi: 10.1016/j.jimonfin.2011.06.006
|
| [66] |
Özşuca EA, Akbostancı E (2016) An empirical analysis of the risk-taking channel of monetary policy in Turkey. Emerg Mark Financ Trade 52: 589–609. https://doi.org/10.1080/1540496x.2015.1047300 doi: 10.1080/1540496x.2015.1047300
|
| [67] |
Rahman MM, Hamid MK, Khan MAM (2015) Determinants of bank profitability: Empirical evidence from Bangladesh. Int J Bus Manag 10: 135. https://doi.org/10.5539/ijbm.v10n8p135 doi: 10.5539/ijbm.v10n8p135
|
| [68] | Ridwan R, Mayapada AG (2022) Does sharia governance influence corporate social responsibility disclosure in Indonesia Islamic banks? In (12: 299–318): Taylor & Francis. https://doi.org/10.1080/20430795.2020.1749819 |
| [69] |
Roy R, Bashar OH, Bhattacharya PS (2023) The cross-industry effects of monetary policy: New evidence from Bangladesh. Econ Model 106479. https://doi.org/10.1016/j.econmod.2023.106479 doi: 10.1016/j.econmod.2023.106479
|
| [70] |
Rubio M, Carrasco-Gallego JA (2016) The new financial regulation in Basel III and monetary policy: A macroprudential approach. J Financ Stabil 26: 294–305. https://doi.org/10.1016/j.jfs.2016.07.012 doi: 10.1016/j.jfs.2016.07.012
|
| [71] |
Saif-Alyousfi AY, Saha A (2021) Determinants of banks' risk-taking behavior, stability and profitability: Evidence from GCC countries. Int J Islamic Middle 14: 874–907. https://doi.org/10.1108/imefm-03-2019-0129 doi: 10.1108/imefm-03-2019-0129
|
| [72] |
Sarkar S, Sensarma R (2019) Risk-taking channel of monetary policy: Evidence from Indian banking. Margin: J Appl Econ Res 13: 1–20. https://doi.org/10.1177/0973801018800088 doi: 10.1177/0973801018800088
|
| [73] |
Sarkar S, Sensarma R, Sharma D (2019) The relationship between risk, capital and efficiency in Indian banking: Does ownership matter? J Financ Econ Policy 11: 218–231. https://doi.org/10.1108/jfep-05-2018-0074 doi: 10.1108/jfep-05-2018-0074
|
| [74] |
Siddique A, Khan MA, Khan Z (2021) The effect of credit risk management and bank-specific factors on the financial performance of the South Asian commercial banks. Asian J Account Res 7: 182–194. https://doi.org/10.1108/ajar-08-2020-0071 doi: 10.1108/ajar-08-2020-0071
|
| [75] |
VanHoose DD (2008) Bank capital regulation, economic stability, and monetary policy: what does the academic literature tell us? Atlantic Econ J 36: 1–14. https://doi.org/10.1007/s11293-007-9100-z doi: 10.1007/s11293-007-9100-z
|
| [76] |
Veeramoothoo S, Hammoudeh S (2022) Impact of Basel III liquidity regulations on US Bank performance in different conditional profitability spectrums. N Am J Econ Financ 63: 101826. https://doi.org/10.1016/j.najef.2022.101826 doi: 10.1016/j.najef.2022.101826
|
| [77] |
Wu J, Yan Y, Chen M, et al. (2022) Monetary policy, economic uncertainty and bank risk: Cross-country evidence. J Int Money Financ 122: 102580. https://doi.org/10.1016/j.jimonfin.2021.102580 doi: 10.1016/j.jimonfin.2021.102580
|
| [78] |
Zheng C, Moudud-Ul-Huq S, Rahman M, et al. (2017) The effects of ownership structure on banks' capital and risk-taking behavior: empirical evidence from developing country. Res Int Bus Financ 42: 404–421. https://doi.org/10.1016/j.ribaf.2017.07.035 doi: 10.1016/j.ribaf.2017.07.035
|
| [79] |
Zheng C, Moudud-Ul-Huq S, Rahman MM, et al. (2017) Does the ownership structure matter for banks' capital regulation and risk-taking behavior? Empirical evidence from a developing country. Res Int Bus Financ 42: 404–421. https://doi.org/10.1016/j.ribaf.2017.07.035 doi: 10.1016/j.ribaf.2017.07.035
|
| [80] |
Zhou S, Tewari DD (2019) Shadow banking, risk-taking and monetary policy in emerging economies: A panel cointegration approach. Cogent Econ Financ 7: 1636508. https://doi.org/10.1080/23322039.2019.1636508 doi: 10.1080/23322039.2019.1636508
|
| [81] |
Zins A, Weill L (2017) Islamic banking and risk: The impact of Basel II. Econ Model 64: 626–637. https://doi.org/10.1016/j.econmod.2017.05.001 doi: 10.1016/j.econmod.2017.05.001
|
Changjun Zheng, Md Abdul Mannan Khan, Mohammad Morshedur Rahman, Shahed Bin Sadeque, Rabiul Islam. The impact of monetary policy on banks' risk-taking behavior in an emerging economy: The role of Basel II[J]. Data Science in Finance and Economics, 2023, 3(4): 427-451. doi: 10.3934/DSFE.2023024
DownLoad: