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|
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