Libéralisation financière et crises bancaires dans les pays émergents
Since the early eighties, the emergent economies, as the majority of the OECD members have implemented a broad financial liberalization process. The changes occur in coordination mode related to the liberalization were accompanied by a strong banking instability which reveals the major role played by the lawful and institutional framework in macroeconomic stability. The mains objective of this paper is thus to evaluate starting from the stylized facts and of the method of Logit, the impact on the one hand of liberalization, measured by an aggregative index and on the other hand, quality of institutional structure and lawful and the mode of their transformation mode on banking crisis probability through a panel of 27 emergent countries during the twenty last years (1980-2002). The results obtained stresses well the importance of institutional framework and beyond systemic character of institutional change which cannot be carried out without incident since it touches with a sector as important as the banking sector.
|Date of creation:||19 Oct 2006|
|Note:||View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00188615|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Geert Bekaert & Campbell R. Harvey, 1997.
"Foreign Speculators and Emerging Equity Markets,"
William Davidson Institute Working Papers Series
79, William Davidson Institute at the University of Michigan.
- Reinhart, Carmen & Kaminsky, Graciela, 2000.
"Las crisis gemelas: las causas de los problemas bancarios y de balanza de pagos
[The twin crises: Te causes of banking and balance of payments problems]," MPRA Paper 13842, University Library of Munich, Germany.
- Carmen M. Reinhart & Graciela L. Kaminsky, 1999. "The Twin Crises: The Causes of Banking and Balance-of-Payments Problems," American Economic Review, American Economic Association, vol. 89(3), pages 473-500, June.
- Graciela L. Kaminsky & Carmen M. Reinhart, 1996. "The twin crises: the causes of banking and balance-of-payments problems," International Finance Discussion Papers 544, Board of Governors of the Federal Reserve System (U.S.).
- Reinhart, Carmen & Kaminsky, Graciela, 1999. "The twin crises: The causes of banking and balance of payments problems," MPRA Paper 14081, University Library of Munich, Germany.
- King, Robert G.*Levine, Ross, 1993.
"Finance and growth : Schumpeter might be right,"
Policy Research Working Paper Series
1083, The World Bank.
- Oriana Bandiera & Gerard Caprio Jr. & Patrick Honohan & Fabio Schiantarelli, 1998.
"Does Financial Reform Raise or Reduce Savings?,"
Boston College Working Papers in Economics
413, Boston College Department of Economics.
- Bekaert, Geert & Harvey, Campbell R. & Lundblad, Christian, 2001.
"Emerging equity markets and economic development,"
Journal of Development Economics,
Elsevier, vol. 66(2), pages 465-504, December.
- Philip Arestis, 2003.
"Financial Sector Reforms in Developing Countries with Special reference to Egypt,"
- Philip Arestis, 2003. "Financial Sector Reforms in Developing Countries with Special Reference to Egypt," Economics Working Paper Archive wp_383, Levy Economics Institute.
- North, Douglass C., 1993.
"Economic Performance through Time,"
Nobel Prize in Economics documents
1993-2, Nobel Prize Committee.
- Arestis, Philip & Basu, Santonu, 2004.
"Financial globalisation and regulation,"
Research in International Business and Finance,
Elsevier, vol. 18(2), pages 129-140, June.
- Boyer, Robert, 2004. "A quelles conditions les réformes institutionnelles réussissent-elles ?," CEPREMAP Working Papers (Docweb) 0402, CEPREMAP.
- G. G. Garcia, 1999. "Deposit Insurance; A Survey of Actual and Best Practices," IMF Working Papers 99/54, International Monetary Fund.
- Peter Blair Henry, 2000. "Stock Market Liberalization, Economic Reform, and Emerging Market Equity Prices," Journal of Finance, American Finance Association, vol. 55(2), pages 529-564, 04.
- Chang, Ha-Joon & Park, Hong-Jae & Yoo, Chul Gyue, 1998. "Interpreting the Korean Crisis: Financial Liberalisation, Industrial Policy and Corporate Governance," Cambridge Journal of Economics, Oxford University Press, vol. 22(6), pages 735-746, November.
- Philip Arestis & Panicos Demetriades, 1999. "Financial Liberalization: The Experience of Developing Countries," Eastern Economic Journal, Eastern Economic Association, vol. 25(4), pages 441-457, Fall.
- Ajit, Singh, 1998.
"'Asian capitalism' and the financial crisis,"
24937, University Library of Munich, Germany.
- Singh, Ajit, 1998. "Asian capitalism and the financial crisis," MPRA Paper 54932, University Library of Munich, Germany.
- Ajit Singh, 1998. ""Asian Capitalism" and the Financial Crisis," SCEPA working paper series. SCEPA's main areas of research are macroeconomic policy, inequality and poverty, and globalization. 1998-15, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
- Luis Miotti & Dominique Plihon, 2001. "Liberalisation financiere, speculation et crises bancaires," Economie Internationale, CEPII research center, issue 85, pages 3-36.
- International Monetary Fund, 2003. "Managing Risks in Financial Market Development; The Role of Sequencing," IMF Working Papers 03/116, International Monetary Fund.
- Kim, E Han & Singal, Vijay, 2000. "Stock Market Openings: Experience of Emerging Economies," The Journal of Business, University of Chicago Press, vol. 73(1), pages 25-66, January.
- Asli DemirgÃ¼Ã§-Kunt & Enrica Detragiache, 2000. "Does Deposit Insurance Increase Banking System Stability?," IMF Working Papers 00/3, International Monetary Fund.
- Geert Bekaert & Campbell R. Harvey & Christian T. Lundblad, 2003.
"Equity Market Liberalization in Emerging Markets,"
Journal of Financial Research,
Southern Finance Association;Southwestern Finance Association, vol. 26(3), pages 275-299.
- Caprio, Gerard Jr. & Klingebiel, Daniela, 1996. "Bank insolvencies : cross-country experience," Policy Research Working Paper Series 1620, The World Bank.
When requesting a correction, please mention this item's handle: RePEc:hal:cepnwp:hal-00188615. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.