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Banking Deregulation and Financial Stability in Emerging Market Economies

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  • Adnen CHOCKRI

    () (University of Economics and Management, Sfax, Tunisia, Department of Quantitative Methods, Laboratory of Applied Economics and Finance (LEFA), ARDES FSEG Sfax route de l’aéroport km 4 Sfax 3018)

  • Zied AKROUT

    () (Ier Institute of Business Administration of Sfax, Tunisia, Unit of Competitiveness, Commercial Decision and Internationalization Research, ISAS Route de l'Aéroport Km 4 - B.P. 1013 – Sfax 3018 Tunisia)

Abstract

Since the 80’s, an increasing number of emergent countries have begun in the process of banking deregulation. This policy of liberalization of the financial systems was stimulated by the increase of the national debts and the inconsistency of the restrictions with the new economic and financial world. However, these last decades were marked by great financial crises which became world extensive. From there arose the question whether the process of deregulation, started by the developed countries since the sixties and accentuated in the eighties by the emergent and developing countries, contributed to the recent crises. Several theoretical and empirical studies investigated this question to show that these crises concern various fields: macroeconomic imbalances, structural weakness of the financial systems, instability of international flows of capital, etc.

Suggested Citation

  • Adnen CHOCKRI & Zied AKROUT, 2011. "Banking Deregulation and Financial Stability in Emerging Market Economies," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 8, pages 99-117, December.
  • Handle: RePEc:aic:revebs:y:2011:i:8:chockria
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    References listed on IDEAS

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    1. Eichengreen, Barry & Arteta, Carlos, 2000. "Banking Crises in Emerging Markets: Presumptions and Evidence," Center for International and Development Economics Research, Working Paper Series qt3pk9t1h2, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
    2. Robert Dekle & Kenneth Kletzer, 2002. "Domestic Bank Regulation and Financial Crises: Theory and Empirical Evidence from East Asia," NBER Chapters,in: Preventing Currency Crises in Emerging Markets, pages 507-558 National Bureau of Economic Research, Inc.
    3. Hutchison, Michael & McDill, Kathleen, 1999. "Are All Banking Crises Alike? The Japanese Experience in International Comparison," Journal of the Japanese and International Economies, Elsevier, vol. 13(3), pages 155-180, September.
    4. Asli Demirgüç-Kunt & Enrica Detragiache, 1997. "The Determinants of Banking Crises; Evidence From Developing and Developed Countries," IMF Working Papers 97/106, International Monetary Fund.
    5. Demirguc-Kunt, Asli & Detragiache, Enrica, 2002. "Does deposit insurance increase banking system stability? An empirical investigation," Journal of Monetary Economics, Elsevier, vol. 49(7), pages 1373-1406, October.
    6. Demirguc-Kent, Asli & Detragiache, Enrica, 1998. "Financial liberalization and financial fragility," Policy Research Working Paper Series 1917, The World Bank.
    7. Diaz-Alejandro, Carlos, 1985. "Good-bye financial repression, hello financial crash," Journal of Development Economics, Elsevier, vol. 19(1-2), pages 1-24.
    8. Asli Demirgüç-Kunt & Enrica Detragiache, 2005. "Cross-Country Empirical Studies of Systemic Bank Distress: A Survey," National Institute Economic Review, National Institute of Economic and Social Research, vol. 192(1), pages 68-83, April.
    9. Asli Demirgüç-Kunt & Enrica Detragiache, 1998. "The Determinants of Banking Crises in Developing and Developed Countries," IMF Staff Papers, Palgrave Macmillan, vol. 45(1), pages 81-109, March.
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    More about this item

    Keywords

    deregulation - financial stability - financial crises;

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G01 - Financial Economics - - General - - - Financial Crises
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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