Assessing the robustness of the relationship between financial reforms and banking crises

Autores
Gluzmann, Pablo Alfredo; Guzmán, Martín
Año de publicación
2017
Idioma
inglés
Tipo de recurso
artículo
Estado
versión publicada
Descripción
This paper provides a novel approach for assessing the robustness of the relationship between different types of financial reforms and banking crises for the period 1973– 2005. We document the following facts for emerging economies: (i) liberalizations of capital accounts, securities markets, interest rates, removal of credit controls, barriers to entry, and reduction of state ownership in the banking sector, all are positively associated with a higher frequency of banking crises; (ii) the increase in financial turbulence is mainly concentrated within a time-window of five years after the reforms: If a country does not experience a banking crisis within that period, the probability of experiencing a crisis afterwards becomes insignificant; and (iii) the results are robust to the inclusion of all control variables that have been found in the literature as significant determinants of banking crises.
Facultad de Ciencias Económicas
Materia
Ciencias Económicas
Financial reforms
Banking crise
Robustness
Nivel de accesibilidad
acceso abierto
Condiciones de uso
http://creativecommons.org/licenses/by-nc-sa/4.0/
Repositorio
SEDICI (UNLP)
Institución
Universidad Nacional de La Plata
OAI Identificador
oai:sedici.unlp.edu.ar:10915/150902

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spelling Assessing the robustness of the relationship between financial reforms and banking crisesGluzmann, Pablo AlfredoGuzmán, MartínCiencias EconómicasFinancial reformsBanking criseRobustnessThis paper provides a novel approach for assessing the robustness of the relationship between different types of financial reforms and banking crises for the period 1973– 2005. We document the following facts for emerging economies: (i) liberalizations of capital accounts, securities markets, interest rates, removal of credit controls, barriers to entry, and reduction of state ownership in the banking sector, all are positively associated with a higher frequency of banking crises; (ii) the increase in financial turbulence is mainly concentrated within a time-window of five years after the reforms: If a country does not experience a banking crisis within that period, the probability of experiencing a crisis afterwards becomes insignificant; and (iii) the results are robust to the inclusion of all control variables that have been found in the literature as significant determinants of banking crises.Facultad de Ciencias Económicas2017info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArticulohttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdfhttp://sedici.unlp.edu.ar/handle/10915/150902enginfo:eu-repo/semantics/altIdentifier/issn/1873-0612info:eu-repo/semantics/altIdentifier/doi/10.1016/j.intfin.2017.02.003info:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by-nc-sa/4.0/Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0)reponame:SEDICI (UNLP)instname:Universidad Nacional de La Platainstacron:UNLP2025-09-03T11:10:54Zoai:sedici.unlp.edu.ar:10915/150902Institucionalhttp://sedici.unlp.edu.ar/Universidad públicaNo correspondehttp://sedici.unlp.edu.ar/oai/snrdalira@sedici.unlp.edu.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:13292025-09-03 11:10:54.94SEDICI (UNLP) - Universidad Nacional de La Platafalse
dc.title.none.fl_str_mv Assessing the robustness of the relationship between financial reforms and banking crises
title Assessing the robustness of the relationship between financial reforms and banking crises
spellingShingle Assessing the robustness of the relationship between financial reforms and banking crises
Gluzmann, Pablo Alfredo
Ciencias Económicas
Financial reforms
Banking crise
Robustness
title_short Assessing the robustness of the relationship between financial reforms and banking crises
title_full Assessing the robustness of the relationship between financial reforms and banking crises
title_fullStr Assessing the robustness of the relationship between financial reforms and banking crises
title_full_unstemmed Assessing the robustness of the relationship between financial reforms and banking crises
title_sort Assessing the robustness of the relationship between financial reforms and banking crises
dc.creator.none.fl_str_mv Gluzmann, Pablo Alfredo
Guzmán, Martín
author Gluzmann, Pablo Alfredo
author_facet Gluzmann, Pablo Alfredo
Guzmán, Martín
author_role author
author2 Guzmán, Martín
author2_role author
dc.subject.none.fl_str_mv Ciencias Económicas
Financial reforms
Banking crise
Robustness
topic Ciencias Económicas
Financial reforms
Banking crise
Robustness
dc.description.none.fl_txt_mv This paper provides a novel approach for assessing the robustness of the relationship between different types of financial reforms and banking crises for the period 1973– 2005. We document the following facts for emerging economies: (i) liberalizations of capital accounts, securities markets, interest rates, removal of credit controls, barriers to entry, and reduction of state ownership in the banking sector, all are positively associated with a higher frequency of banking crises; (ii) the increase in financial turbulence is mainly concentrated within a time-window of five years after the reforms: If a country does not experience a banking crisis within that period, the probability of experiencing a crisis afterwards becomes insignificant; and (iii) the results are robust to the inclusion of all control variables that have been found in the literature as significant determinants of banking crises.
Facultad de Ciencias Económicas
description This paper provides a novel approach for assessing the robustness of the relationship between different types of financial reforms and banking crises for the period 1973– 2005. We document the following facts for emerging economies: (i) liberalizations of capital accounts, securities markets, interest rates, removal of credit controls, barriers to entry, and reduction of state ownership in the banking sector, all are positively associated with a higher frequency of banking crises; (ii) the increase in financial turbulence is mainly concentrated within a time-window of five years after the reforms: If a country does not experience a banking crisis within that period, the probability of experiencing a crisis afterwards becomes insignificant; and (iii) the results are robust to the inclusion of all control variables that have been found in the literature as significant determinants of banking crises.
publishDate 2017
dc.date.none.fl_str_mv 2017
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Articulo
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info:eu-repo/semantics/altIdentifier/doi/10.1016/j.intfin.2017.02.003
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Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0)
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Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0)
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