Marta Anita Karaś

From fragmented listings to systemic-risk signals: A proxy-augmented ΔCoVaR framework for the African banking systems

This paper proposes an asset-weighted, proxy-augmented ΔCoVaR framework for measuring systemic risk in African banking systems with limited direct equity-market observability. The method preserves listed local banks and augments country-level systems through valid listed parent,...