Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/30663 
Year of Publication: 
2009
Series/Report no.: 
CESifo Working Paper No. 2870
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
We examine the impact of various dimensions of financial reform on the likelihood of systemic and non-systemic banking crises. Using new financial reform measures for a large sample of developing and developed countries for the period 1973 to 2002, our multivariate probit modeling results suggest that conditional on adequate banking supervision, certain dimensions of financial reform reduce the likelihood of systemic crises. We also show that after a country has reformed, the introduction of further reforms becomes easier and leads to more stable financial systems. We also find some evidence that the likelihood of non-systemic crisis increases after financial reform.
Subjects: 
banking crises
financial reform
financial fragility
JEL: 
E44
G21
G28
F36
Document Type: 
Working Paper
Appears in Collections:

Files in This Item:
File
Size
330.48 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.