The Invention of Shadow Banking
Keywords:
shadow banking, financial intermediation, securitization, collateralAbstract
The spectacular rise of non-banking intermediation has led to a vast literature devoted to the analysis of the shadow banking phenomenon, considered to be the main reason for the banking and financial debacle of the great crisis of 2007-2008. The aim of this article is to present the roots of this phenomenon, as an essential prerequisite in order to establish its role in credit funding. In the light of an analysis of the tools of modern finance, this article offers a thought that gradually raises questions about the tilting of the financial system towards an intensive collateralization process.(original abstract)
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Copyright (c) 2020 Poznań University of Economics and Business
This work is licensed under a Creative Commons Attribution 4.0 International License.
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