Impact of Financial Regulation on Emerging Countries
This article analyzes the potential impact of a higher level of capital and liquidity of banks on the credit penetration and the economic development in emerging countries. To do so, it employs an econometric exercise in two stages. In the first stage it is estimated the impact of capital and liquidity on the quantity and the price of credit. In the second stage it is quantified the impact of credit and its price on the GDP per capita. Thus, the impact of regulation on output is estimated using a chain rule. The article shows that in general the effects of capital and liquidity are higher in emerging countries in terms of banking penetration and GDP per capita.
References listed on IDEAS
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- Rafael Repullo & Jesús Saurina & Carlos Trucharte, 2010.
"Mitigating the pro-cyclicality of Basel II,"
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- John, Kose & John, Teresa A. & Saunders, Anthony, 1994. "Universal banking and firm risk-taking," Journal of Banking & Finance, Elsevier, vol. 18(2), pages 307-323, January.
- Liliana Rojas-Suarez, 2010. "The International Financial Crisis: Eight Lessons for and from Latin America," Working Papers 202, Center for Global Development. Full references (including those not matched with items on IDEAS)
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