While operating side-by-side with conventional banks, the systemic risk profile of Islamic banks could be different due to their unique business model. Using a sample of ten countries with dual-banking systems, where the Islamic banking sector is considered systemically important, this paper...

The Russia-Ukraine conflict has increased systemic vulnerabilities of the global financial system. We develop a database of news events and investigate the systemic risk implications of the conflict on Russia, Ukraine, France, Germany, Italy, the UK, the USA, and China. Results show that...

Banking sectors across the world are facing unprecedented challenges due to the COVID-19 pandemic and are under immense pressure. This study examines the impact of COVID-19 on the systemic risk in eight of the most affected countries. Results indicate a significant increase in systemic risk...

Financial markets are interconnected and fragile making them vulnerable to systemic contagion, and measuring this risk is crucial for regulatory responsiveness. This study introduces a new set of measures for systemic risk using a copula‐based (CB) estimation method with a focus on U.S. Bank...