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2007, and especially in the euro area after 2010. That crisis triggered major changes to European financial regulation and … the euro area and increased the euro area's resilience. Asian financial integration lags well behind Europe, and there is …
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regulation on the probability of a crisis. We test this relationship by applying a Probit model of a non-linear specification to …: it rises as regulation stringency moves from low to medium levels and falls from medium to high levels. Countries located …
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