Systemic Financial Risk

An Emerging Market Perspective
1. Auflage 2024
ISBN: 978-3-031-54808-6
Verlag: Palgrave Macmillan

Buch, Englisch, 334 Seiten, Format (B × H): 148 mm x 210 mm

This book provides an analysis of various sources and forms of systemic financial risk. It focuses on the most pressing research questions for both advanced and emerging market economies, including green finance, ESG agenda and related risks, international financial connectivity across countries and financial institutions, and catastrophic risks modeling. Part 1 considers emerging research issues in risk assessment and management, including new approaches to measuring financial development, trends and prospects of green finance, and cross-country financial spillovers. Part 2 casts a more nuanced look at the quantitative models and methods adopted in risk assessment and risk management, putting such issues as measuring catastrophic risks, liquidity mismatches as well as modeling probabilities of default and the impact of macroeconomic fundamentals on capital adequacy ratios in the Russian banking sector in the spotlight. Finally, Part 3 discusses the new regulatory challenges dealingwith risk assessment and risk management, such as macroprudential policies which have proved efficient to mitigate systemic risk are investigated.



The book offers a comprehensive picture of the challenges which emerging market economies are facing in the field of financial risk assessment and management. Specifically, the challenges are discussed in the context of elaborated models and policy responses, which are based on the up-to-date theoretical contributions and empirical evidence from various fields, making the book relevant to professors, researchers, graduate students, and practitioners of risk management, international finance, and financial services.

Zielgruppe

Research

Autoren/Hrsg.

Karminsky, Alexander

Stolbov, Mikhail

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Internationale Finanzmärkte
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Makroökonomie
• Wirtschaftswissenschaften Betriebswirtschaft Management Risikomanagement
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Bankwirtschaft

Inhaltsverzeichnis

Part I. New Trends in International Financial Development and Risk Assessment.- Chapter 1. Adapted Approaches to Measuring Financial Development Konstantin Krinichansky.- Chapter 2. Green Finance: Trends, Prospects and Risks Svetlana Pertseva, Anna Vityazeva.- Chapter 3. Dynamic BRICS Stock Market Linkages as a Channel of Systemic Risk Transmission: Evidence from the Asymmetric Connectedness Approach Onur Polat.- Chapter 4. Household Income and Financial Stability of the Russian Banking Sector Olga Miroshnichenko, Maria Vyshkovskaia, Valeriy Gamukin.- Chapter 5. The impact of ESG rating on companies' resilience to systemic risks Alexandra Egorova, Herman Petrov-Nerling.- Part II. Quantitative Methods and Models in Emerging Markets’ Risk Management.- Chapter 6. New Ways of Measuring Catastrophic Risk Vigen Minasyan.- Chapter 7. Measuring Market Liquidity and Liquidity Mismatches across Sectors Artur Akhmetov, Anna Burova, Natalia Makhankova, and Alexey Ponomarenko.- Chapter 8.The Impact of Macroeconomic Factors on Capital Adequacy of the Russian Banking Sector in the Context of Countercyclical Banking Regulation Olga Miroshnichenko, Maria Vyshkovskaia.- Chapter 9. Assessing the Probability of Default during the COVID-19 Pandemic: the case of airlines Elizaveta Markovskaya, Elena Smolina.- Part III. New Challenges in Systemic Risk Assessment and Regulation.- Chapter 10. Macroprudential Policy: Tools and Evaluation of the Effectiveness of Measures for Systemic Risks Management Ekaterina Seryakova.- Chapter 11. Financial Resolution of Banks in Distress: International Evidence Nataliya Kovaleva, Oksana Petrova.- Chapter 12. Digital Systemic Financial Risks in the Russian Banking Sector Sergey Dubinin.- Conclusion

Über Autor(innen)

Alexander Karminsky is a Research Professor in the Faculty of Economic Sciences/School of Finance at HSE University. Prof. Karminsky is also in charge of the Laboratory of Financial Innovation and Risk Management at HSE University. He is a distinguished scholar in the field of banking, risk management, and innovations research. He has authored a number of publications in international peer-reviewed journals and monographs. Prof. Karminsky is a member of organizing and scientific committees of important conferences and workshops in the field of finance and risk management both in Russia and abroad.

Mikhail Stolbov is Chair of the Department of Applied Economics and Professor in the Economics and Banking Business Department at MGIMO University. Since 2015, he is a distinguished professor of the Russian Academy of Sciences. His research focuses on financial stability, systemic risk, finance-growth nexus and green finance. Prof. Stolbov has a number of publications in leading peer-reviewed journals, both domestic and international. Prof. Stolbov regularly delivers talks at influential conferences in the field of international finance, financial stability and empirical macroeconomics in Russia and abroad.