Banking Crises and Reversals in Financial Reforms
Journal Title: Finance a uver - Year 2018, Vol 68, Issue 5
Abstract
A number of countries have gone through banking crises since the early 1970s. This work links those episodes with the patterns of various financial reforms within those countries. As banking crises in a domestic economy are endogenous, exposures to banking crises in the rest of the world through the trade channel help identify the domestic banking crises. Both 2SLS and GMM estimations are used. The results demonstrate that systemic banking crises reverse financial reforms with varying lags, while non-systemic crises exert a weaker influence on financial reforms. The core methodological contribution of this work is an empirical identification strategy for occurrences of banking crises.
Authors and Affiliations
Petar Stankov
Keywords
Related Articles
- EP ID EP544416
- DOI -
- Views 160
- Downloads 0
The Effects of the Euro Area Entrance on the Monetary Transmission Mechanism in Slovakia in Light of the Global Economic Recession
In this paper we estimate the monetary policy reaction function of the National Bank of Slovakia and the possible impact of an independent monetary policy on the Slovak economy in 2009 and 2010, when the global economic...
The Time Dimension of the Links Between Loss Given Default and the Macroeconomy
Most studies focusing on the determinants of loss given default (LGD) have largely ignored possible lagged effects of the macroeconomy on LGD. We fill this gap by employing a wide set of macroeconomic covariates on a ret...
Institutions, Policy and Banking Sector Development: A Reassessment
This paper investigates the links between institutional quality and government policy in banking sector development, using data from 80 low-, middle- and high-income economies during 1985–2007. In order to investigate th...
Signaling by Underpricing the Initial Public Offerings of Primary Listings in an Emerging Market
We show that issuers use initial public offering (IPO) underpricing to signal their quality when the a priori information asymmetry is significant. Contrary to weak evidence in the signaling hypothesis from established m...
Editorial
---