Taming financial development to reduce crises
Taming financial development to reduce crises
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DOI：
10.1016/j.ememar.2019.05.003
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发表时间：
2019-09-01
影响因子：
4.8
通讯作者：
Lajaunie, Quentin
中科院分区：
文献类型：
--
作者：
Ben Naceur, Sami;Candelon, Bertrand;Lajaunie, Quentin
本文探讨了金融发展是否以及如何引发银行危机。它建立在一个数据库的基础上，该数据库包括近100个国家的金融发展以及金融准入、深度和效率。通过动态logit面板模型的估计，似乎金融发展，从制度层面，并在较小程度上从市场层面，触发金融稳定在1至2年的视野。此外，虽然金融准入对发达国家来说是不稳定的，但对新兴和低收入国家来说是稳定的。这两个结果对宏观审慎政策和金融监管具有重要意义。
This paper assesses whether and how financial development triggers the occurrence of banking crises. It builds on a database that includes financial development as well as financial access, depth and efficiency for almost 100 countries. Through estimation of a dynamic logit panel model, it appears that financial development, from an institutional dimension and to a lesser extent from a market dimension, triggers financial stability within a 1- to 2-year horizon. Additionally, whereas financial access is destabilizing for advanced countries, it is stabilizing for emerging and low incomes ones. Both results have important implications for macroprudential policies and financial regulations.