Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/225053 
Year of Publication: 
2019
Series/Report no.: 
Reports of the Advisory Scientific Committee No. 9
Publisher: 
European Systemic Risk Board (ESRB), European System of Financial Supervision, Frankfurt a. M.
Abstract: 
Drawing on the growing literature in this area, this report assesses possible channels through which ETFs may affect systemic risk. The increasing availability of ETFs can affect investors' behaviour, by allowing them to pursue new strategies to seek return, manage risk and access new asset classes. Such changes in investors' behaviour may in turn impact the functioning of financial markets, particularly in times of market stress. Empirical research has so far identified three effects.
Persistent Identifier of the first edition: 
ISBN: 
978-92-9472-121-1
Document Type: 
Research Report

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