IDEAS home Printed from https://ideas.repec.org/p/wil/wileco/2019-12.html

Assessing the FSAP: Quality, Relevance, and Value Added

Author

Abstract

This paper examines the technical quality, relevance and usefulness of the Financial Sector Assessment Program (FSAP). The FSAP has become an increasingly sophisticated tool for evaluating the stability of financial systems and, for low- and middle-income countries (with the World Bank), a tool to assess their financial development needs. It is regarded by country authorities as a high quality and rigorous exercise, although the quality does vary. Given that the regulatory pendulum fluctuates between more and less rigorous enforcement, the FSAP can serve to keep national authorities "on their toes," to disseminate cutting-edge techniques for assessing and modelling risk, and to examine cross-border threats to financial stability.

Suggested Citation

  • Gerard Caprio, 2019. "Assessing the FSAP: Quality, Relevance, and Value Added," Department of Economics Working Papers 2019-12, Department of Economics, Williams College.
    • Handle: RePEc:wil:wileco:2019-12
    Note: Also issued as IMF IEO Background paper BP/18-02/02
    as

    Download full text from publisher

    File URL: https://web.williams.edu/Economics/wp/Caprio_Assessing_the_FSAP.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. George A. Akerlof & Paul M. Romer, 1993. "Looting: The Economic Underworld of Bankruptcy for Profit," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 24(2), pages 1-74.
    2. Abbassi, Puriya & Brownlees, Christian & Hans, Christina & Podlich, Natalia, 2017. "Credit risk interconnectedness: What does the market really know?," Journal of Financial Stability, Elsevier, vol. 29(C), pages 1-12.
    3. Claudio Borio & William R. White, 2003. "Whither monetary and financial stability : the implications of evolving policy regimes," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 131-211.
    4. Con Keating & Hyun Song Shin & Charles Goodhart & Jon Danielsson, 2001. "An Academic Response to Basel II," FMG Special Papers sp130, Financial Markets Group.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kveta Kubatova, 2009. "Issues of tax burden measuring using tax quota," ACTA VSFS, University of Finance and Administration, vol. 3(2), pages 106-115.
    2. Burnside, Craig & Eichenbaum, Martin & Rebelo, Sergio, 2001. "Hedging and financial fragility in fixed exchange rate regimes," European Economic Review, Elsevier, vol. 45(7), pages 1151-1193.
    3. Marcus Box & Karl Gratzer & Xiang Lin, 2020. "Destructive entrepreneurship in the small business sector: bankruptcy fraud in Sweden, 1830–2010," Small Business Economics, Springer, vol. 54(2), pages 437-457, February.
    4. Agliardi, Elettra & Andergassen, Rainer, 2009. "Last resort gambles, risky debt and liquidation policy," Review of Financial Economics, Elsevier, vol. 18(3), pages 142-155, August.
    5. Erlend Nier, 2009. "Financial Stability Frameworks and the Role of Central Banks: Lessons From the Crisis," IMF Working Papers 2009/070, International Monetary Fund.
    6. Cesa-Bianchi, Ambrogio & Eguren Martin, Fernando & Thwaites, Gregory, 2019. "Foreign booms, domestic busts: The global dimension of banking crises," Journal of Financial Intermediation, Elsevier, vol. 37(C), pages 58-74.
    7. Falk Bräuning & José L. Fillat, 2025. "The Impact of Regulatory Stress Tests on Banks' Portfolio Similarity and Implications for Systemic Risk," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(6), pages 1387-1419, September.
    8. David Dyker, 2000. "The Structural Origins of the Russian Economic Crisis," Post-Communist Economies, Taylor & Francis Journals, vol. 12(1), pages 5-24.
    9. Schneider, Andreas, 2019. "Deterrence Theory in Paraguay: Exploring Fraud and Violation of Trust Cases," MPRA Paper 102204, University Library of Munich, Germany.
    10. Hyytinen, Ari & Takalo, Tuomas, 2008. "Investor protection and business creation," International Review of Law and Economics, Elsevier, vol. 28(2), pages 113-122, June.
    11. José-Luis Peydró [AP BACKUP – NOW EXTERNAL] & Miguel Boucinha & Carlo Altavilla & Frank Smets & José-Luis Peydró, 2019. "Banking Supervision, Monetary Policy and Risk-Taking: Big Data Evidence from 15 Credit Registers," Working Papers 1137, Barcelona School of Economics.
    12. Lim, Terence & Lo, Andrew W. & Merton, Robert C. & Scholes, Myron S., 2006. "The Derivatives Sourcebook," Foundations and Trends(R) in Finance, now publishers, vol. 1(5–6), pages 365-572, April.
    13. Cristina Badarau & Alexandra Popescu, 2015. "Monetary policy and financial stability: what role for the interest rate?," International Economics and Economic Policy, Springer, vol. 12(3), pages 359-374, September.
    14. Ahrend, Rudiger, 2010. "Monetary ease: A factor behind financial crises? Some evidence from OECD countries," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 4, pages 1-30.
    15. Malgorzata Olszak, 2012. "Macroprudential policy - aim, instruments and institutional architecture (Polityka ostroznosciowa w ujêciu makro - cel, instrumenty i architektura instytucjonalna)," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 10(39), pages 7-32.
    16. Li, Ziyang & Chen, Yanjun & Li, Yanlin, 2023. "Top management abnormal turnover and stock price crash risk: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 89(C).
    17. Fabio Bellini & Muqiao Huang & Qiuqi Wang & Ruodu Wang, 2025. "Lambda Expected Shortfall," Papers 2512.23139, arXiv.org, revised Jan 2026.
    18. Agur, Itai & Demertzis, Maria, 2013. "“Leaning against the wind” and the timing of monetary policy," Journal of International Money and Finance, Elsevier, vol. 35(C), pages 179-194.
    19. Agur, Itai, 2019. "Monetary and macroprudential policy coordination among multiple equilibria," Journal of International Money and Finance, Elsevier, vol. 96(C), pages 192-209.
    20. Matovnikov Mikhail, 2003. "The ups and downs of banking system in transition," EERC Working Paper Series 99-244e, EERC Research Network, Russia and CIS.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wil:wileco:2019-12. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Greg Phelan (email available below). General contact details of provider: https://edirc.repec.org/data/edwilus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.