Systemic Banking Crises Database: An Update
In: IMF Working Paper No. 12/163
142 results
Sort by:
In: IMF Working Paper No. 12/163
SSRN
In: IMF Working Papers, p. 1-35
SSRN
In: IMF Working Papers, p. 1-28
SSRN
In: IMF Working Papers, p. 1-35
SSRN
In: IMF Working Papers, p. 1-41
SSRN
In: NBER Working Paper No. w14113
SSRN
In: IMF Working Papers, p. 1-43
SSRN
SSRN
In: Deposit Insurance around the World, p. 149-177
In: IMF Working Papers, p. 1-37
SSRN
In: NBER Working Paper No. w12675
SSRN
Working paper
In: NBER Working Paper No. w11499
SSRN
Investor confidence is a necessary condition for the development of emerging markets. Investors recognize that since market-oriented reform policies may be reversed or hindered, they face the risk of ex post policy changes with redistributive impact on investment returns. We argue that a sustained privatization or liberalization program represents a major test of political commitment, and contributes to reduced policy risk. The evidence from our panel study suggests that progress in privatization gradually leads to increased confidence. Moreover, increased confidence has a strong effect on local market development and is a significant determinant of excess returns. We conclude that, just as financial liberalization, the resolution of policy risk resulting from successful privatization has been an important source for the broadening and deepening of emerging stock markets.
BASE
In: IMF Working Papers
This paper links the current sub-prime mortgage crisis to a decline in lending standards associated with the rapid expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house price increases. We also find that the underlying market structure mattered, with entry of new, large lenders triggering declines in lending standards by incumbent banks. Finally, lending standards declined more in areas with higher mortgage securitization rates. The results are consistent with theoretical predictions from recent financial accelerator mode
In: World Bank discussion paper no.428