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Corporate Savings and the 2007-2009 Financial Crisis: A Warning for the European Banking Union

Author

Listed:
  • Giovanni Scarano

    (Roma Tre University-Department of Economics.)

Abstract

The final step of the European banking union process should be the single deposit guarantee mechanism (SDM) able to allow for bail-in of the banks while the saving system is rescued.If the effectiveness of bank deposit insurance depends on the nature of the financial crisis and the corporate savings glut does in fact play an important role in such crises, then it could be worth looking into the structural, cyclical or transitory nature of the latter. This paper constitutes a preliminary reconnaissance of the phenomenon, seeking to understand its relevance in defining the nature of a financial crisis.

Suggested Citation

  • Giovanni Scarano, 2014. "Corporate Savings and the 2007-2009 Financial Crisis: A Warning for the European Banking Union," Rivista di Politica Economica, SIPI Spa, issue 2, pages 183-195, April-Jun.
    • Handle: RePEc:rpo:ripoec:y:2014:i:2:p:183-195
    as

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    More about this item

    Keywords

    corporate savings; corporate savings glut; corporate net lending; capital investment; cash balances; liquidity holding; financial crises.;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G01 - Financial Economics - - General - - - Financial Crises

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