CEPR-日内瓦27日：大量资金、少量资本和很少改革：2023年的银行业动荡（英）

Ignazio Angeloni, Stijn Claessens, Amit Seru, Sascha Steffen and Beatrice Weder di MauroMUCH MONEY, LITTLE CAPITAL, AND FEW REFORMSTHE 2023 BANKING TURMOILGENEVA REPORTS ON THE WORLD ECONOMY 27ICMB INTERNATIONAL CENTER FOR MONETARY AND BANKING STUDIESCIMB CENTRE INTERNATIONALD’ETUDES MONETAIRESET BANCAIRESMUCH MONEY, LITTLE CAPITAL, AND FEW REFORMSTHE 2023 BANKING TURMOIL Geneva Reports on the World Economy 27INTERNATIONAL CENTER FOR MONETARY AND BANKING STUDIES (ICMB)International Center for Monetary and Banking Studies2, Chemin Eugène-Rigot 1202 GenevaSwitzerlandTel: (41 22) 734 9548Fax: (41 22) 733 3853Web: www.icmb.ch© 2024 International Center for Monetary and Banking StudiesCENTRE FOR ECONOMIC POLICY RESEARCHCentre for Economic Policy Research187 boulevard Saint-Germain, 1er étage75007 Paris France33 Great Sutton StreetLondon EC1V 0DXUKTel: +44 (20) 7183 8801Fax: +44 (20) 7183 8820Email: cepr@cepr.orgWeb: www.cepr.orgISBN: 978-1-912179-88-6MUCH MONEY, LITTLE CAPITAL, AND FEW REFORMS THE 2023 BANKING TURMOIL Geneva Reports on the World Economy 27Ignazio AngeloniSAFE and IEP BocconiStijn Claessens Yale School of Management and CEPRAmit Seru Stanford Graduate School of Business, Hoover Institution and CEPRSascha SteffenFrankfurt School of Finance and Management and CEPRBeatrice Weder di MauroGeneva Graduate Institute, INSEAD and CEPR ICMB INTERNATIONAL CENTER FOR MONETARY AND BANKING STUDIESCIMB CENTRE INTERNATIONALD’ETUDES MONETAIRESET BANCAIRESTHE INTERNATIONAL CENTER FOR MONETARY AND BANKING STUDIES (ICMB)The International Center for Monetary and Banking Studies (ICMB) was created in 1973 as an independent, non-profit foundation. It is associated with Geneva’s Graduate Institute of International and Development Studies. Its aim is to foster exchanges of views between the financial sector, central banks and academics on issues of common interest. It is financed through grants from banks, financial institutions and central banks. The Center sponsors international conferences, public lectures, original research and publications. In association with CEPR, the Center has published the Geneva Reports on the World Economy since 1999. These reports attract considerable interest among practitioners, policymakers and scholars. ICMB is non-partisan and does not take any view on policy. Its publications, including the present report, reflect the opinions of the authors, not of ICMB or any of its sponsoring institutions. The President of the Foundation Board is Jaime Caruana and the Director is Ugo Panizza. CENTRE FOR ECONOMIC POLICY RESEARCH (CEPR)The Centre for Economic Policy Research (CEPR) is a network of almost 1,900 research economists based mostly in European universities. The Centre’s goal is twofold: to promote world-class research, and to get the policy-relevant results into the hands of key decision-makers. CEPR’s guiding principle is ‘Research excellence with policy relevance’. It was founded in the UK in 1983, where it is a Charity