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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19763| Title: | Open-end real estate funds in Germany: genesis and crisis |
| Keywords: | G28 G23 ddc:330 Open-End Funds Liquidity Transformation Liquidity Crisis Risk Sharing Immobilienfonds Zahlungsunfähigkeit Finanzintermediär Risiko Bankenaufsicht Deutschland |
| Issue Date: | 16-Oct-2013 |
| Description: | Open-end real estate funds are of particular importance in the German bank- dominated financial system. However, recently the German open-end fund industry came under severe distress which triggered a broad discussion of required regulatory interventions. This paper gives a detailed description of the institutional structure of these funds and of the events that led to the crisis. Furthermore, it applies recent banking theory to openend real estate funds in order to understand why the open-end fund structure was so prevalent in Germany. Based on these theoretical insights we evaluate the various policy recommendations that have been raised. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/19763 |
| Other Identifiers: | http://hdl.handle.net/10419/19763 ppn:527422614 RePEc:zbw:bubdp2:5575 |
| Appears in Collections: | EconStor |
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