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Quality of Financial Policies and Financial System Stress

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Author Info

  • Udaibir S. Das
  • Plamen Yossifov
  • Richard Podpiera
  • Dmitriy Rozhkov

Abstract

In this paper, we develop multi-country indices of financial system stress and quality of financial policies and use them in regression analysis of the determinants of financial stress. We find that countries with higher quality of financial policies are better able to contain the effects of macroeconomic pressures on the overall level of stress in the financial system. They are also in a better position to ensure sustainable development of the financial system.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 05/173.

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Length: 49
Date of creation: 01 Sep 2005
Date of revision:
Handle: RePEc:imf:imfwpa:05/173

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Related research

Keywords: Financial systems; financial system; financial policies; banking; foreign exchange; banking sector; stock market; bond; foreign exchange market; financial sector; financial stability; international financial statistics; banking supervision; banking crises; currency crises; financial markets; bond index; equity markets; bank soundness; deposit insurance; bank credit; stock markets; international reserves; government bond; nominal exchange rate; financial contagion; emerging stock markets; deposit money; government bond index; bank for international settlements; deposit money banks; stock market index; financial intermediaries; financial institutions; bond markets; bonds; bank lending; stock market indices; bank lenders; assets of deposit money; assets of deposit money banks; bank lender; money market; interbank market; international bank lending; stock market capitalization; moral hazard; bank of canada; benchmark government bond; bank crises; government finance; exchange rate devaluation; fixed income bond; hedge funds; prudential regulation; international financial markets; income bond; money market rate; banking sectors; banking statistics; financial structure; domestic government bond; financial market; financial intermediation; deposit insurance scheme; financial globalization; financial services; financial backup facilities; financial fragility; financial sector development; bank regulation; macroeconomic stability; bank runs; equity market; bank run; borderline financial crises; bank policy; eurobonds; international finance; stock market crashes; domestic hedge; brady bonds; bank assets; money market instruments; government bond yields; bond yields; banking system; excess liquidity; capital adequacy; international standards;

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References

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  1. Bennett Sutton & Luis Catão, 2002. "Sovereign Defaults," IMF Working Papers 02/149, International Monetary Fund.
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Citations

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Cited by:
  1. Demirgüç-Kunt, AslI & Detragiache, Enrica & Tressel, Thierry, 2008. "Banking on the principles: Compliance with Basel Core Principles and bank soundness," Journal of Financial Intermediation, Elsevier, vol. 17(4), pages 511-542, October.
  2. Demirguc-Kunt, Asli & Detragiache, Enrica, 2009. "Basel core principles and bank soundness : does compliance matter ?," Policy Research Working Paper Series 5129, The World Bank.
  3. Jeroen Klomp & Jacob de Haan (DNB), 2010. "Banking risk and regulation: Does one size fit all?," CPB Discussion Paper 164, CPB Netherlands Bureau for Economic Policy Analysis.
  4. Enrica Detragiache & Thierry Tressel & Asli Demirgüç-Kunt, 2006. "Bankingon the Principles," IMF Working Papers 06/242, International Monetary Fund.
  5. DeLisle Worrell & Andrea M. Maechler & Srobona Mitra, 2007. "Decomposing Financial Risks and Vulnerabilities in Eastern Europe," IMF Working Papers 07/248, International Monetary Fund.
  6. Klomp, Jeroen & Haan, Jakob de, 2012. "Banking risk and regulation: Does one size fit all?," Journal of Banking & Finance, Elsevier, vol. 36(12), pages 3197-3212.

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