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| The Behavior Model of Chinese Shadow Banking |
| YU Jianzhong, LIU Haifei, SONG Surong
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China-ASEAN Collaborative Innovation Center for Regional Development;
School of Engineering and Management,Nanjing University;
Agricultural Bank of China |
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Abstract After the international financial crisis, the “shadow banking” has become the focus of global financial regulation and academia research, but lack of study on its behavior model. This paper presents a “shadow banking” analysis of the conception, risk characteristics and differences between native and foreign institutions. Based on the theories of behavioral finance, this study selects fundamental factors affecting the behavior of shadow banking, summarizes behavioral characteristics, refines their behavioral variables and constructs behavior conceptual model. Then this study converts conceptual model into the mathematical model and uses Monte Carlo method with SAS software to conduct data simulation and scenario analysis. The targeted policy suggestions are listed for regulators to effectively implement regulation and control systemic risk of shadow banking.
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Received: 19 November 2014
Published: 01 January 1900
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