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Libéralisation financière, développement financier et crises bancaires : le rôle du capital social

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  • Lobna Bousrih
  • Mohamed Trabelsi

Abstract

[fre] Ce papier teste la relation entre libéralisation financière, crises bancaires et capital social. Les tests sont réalisés en utilisant la méthode du Logit multivarié et les données de panel avec effets aléatoires. Il ressort que : . - les crises bancaires sont susceptibles de se produire dans les pays qui ont libéralisé leurs systèmes financiers ; . - le risque de fragilité du secteur bancaire est élevé dans les pays où l’environnement institutionnel est moins développé avec des niveaux de corruption et de bureaucratie élevées et un faible niveau de respect des contrats ; - enfin, le développement de l’infrastructure sociale avec des niveaux élevés de confiance et de coopération entre les individus peut limiter les effets nuisibles d’une libéralisation du secteur bancaire. Ce même niveau de confiance entre les individus semble également conditionner de manière significative l’effet du développement financier sur la croissance économique. . Classification JEL : E44, F36, G21 [eng] Financial liberalization, financial development and banking crises : the role of social capital . This paper explores the possible link between financial sector liberalization, social capital and banking crises for a sample of some developed and emerging countries during the period 1980-2001 using a multivariate logit and panel data regressions. The main results of the paper are : . - Banking crises are likely to occur in countries that liberalized their financial systems ; . - The authors found also that problem of financial fragility increase the likelihood of banking crisis in countries with less developed Institutional environment featured by high corruption, bureaucracy and lower contract enforceability ; . - Finally, a developed social infrastructure with high levels of trust of and co-operation between and individuals can curb the adverse effects of liberalization policies on the banking system. The same level of trust appears to be a significant determinant of economic growth conditioning also the effect of financial development on the real sector. . JEL classification : E44, F36, G21

Suggested Citation

  • Lobna Bousrih & Mohamed Trabelsi, 2005. "Libéralisation financière, développement financier et crises bancaires : le rôle du capital social," Revue d'Économie Financière, Programme National Persée, vol. 81(4), pages 83-106.
  • Handle: RePEc:prs:recofi:ecofi_0987-3368_2005_num_81_4_4014
    Note: DOI:10.3406/ecofi.2005.4014
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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