A carregar...
Publicação
Banking crises: the impact of financial liberalization
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 112.92 KB | Adobe PDF |
Orientador(es)
Resumo(s)
This paper intends to study whether financial liberalization tends to increase the likelihood of systemic banking crises. I used a sample of 79 countries with data
spanning from 1973 to 2005 to run a panel probit model. I found that, if anything,
financial liberalization as measured across seven different dimensions tends to decrease
the probability of occurrence of a systemic banking crisis. I went further and did several robustness tests – used a conditional probit model, tested for different durations of liberalization impact and reduced the sample by considering only the first crisis event for each country. Main results still verified, proving the results’ robustness.
Descrição
Palavras-chave
Financial liberalization Banking crises Panel data probit model