Quality of Financial Policies and Financial System Stress
49 Pages Posted: 3 Mar 2006
Date Written: August 2005
Abstract
In this paper, we develop multi-country indices of financial system stress and quality of financial policies and use them in regression analysis of the determinants of financial stress. We find that countries with higher quality of financial policies are better able to contain the effects of macroeconomic pressures on the overall level of stress in the financial system. They are also in a better position to ensure sustainable development of the financial system.
Keywords: Financial crises, financial stress, financial policies
JEL Classification: G15, G18
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
Managing Volatility and Crises: A Practitioner's Guide Overview
By Joshua Aizenman and Brian Pinto
-
Managing Volatility and Crises: A Practitioner's Guide Overview
By Joshua Aizenman and Brian Pinto
-
Testing the Volatility Term Structure Using Option Hedging Criteria
-
Volatility and Financial Intermediation
By Joshua Aizenman and Andrew Powell
-
Sources of Fluctuations: The Case of MENA
By Hideaki Hirata, M. Ayhan Kose, ...
-
Financial Globalization and the Russian Crisis of 1998
By Brian Pinto and Sergei Ulatov