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We examine the impact of various dimensions of financial reform on the likelihood of systemic and non-systemic banking crises. Using new financial reform measures for a large sample of developing and developed countries for the period 1973 to 2002, our multivariate probit modeling results...
Persistent link: https://www.econbiz.de/10003922715
We examine the political dynamics which led to the codification of the Principles and Standards for sound compensation practices at financial institutions at international (G 20) level and to their subsequent implementation on both sides of the Atlantic. We show that the regulation of bankers'...
Persistent link: https://www.econbiz.de/10013091649
To reconcile the mixed empirical results, we develop a theoretical model whose main implication is a concave impact of regulation on the probability of a crisis. We test this relationship by applying a Probit model of a non-linear specification to annual data from 1999 to 2011 drawn from 132...
Persistent link: https://www.econbiz.de/10012866557
An extensive review of the evidence related to the 2007-09 crisis reveals that it was an insolvency risk crisis, not a liquidity crisis. The appropriate post-crisis regulatory reform should therefore focus on increasing capital requirements. The Basel III liquidity requirements do not serve a...
Persistent link: https://www.econbiz.de/10012929698
and political markets to spur deregulation and riskier lending and investment, which in turn contributes to the severity … profits. 2) These additional profits leads to calls for deregulation to enable the first class to participate in lucrative … lending or investment markets. 3) Deregulation allows the first class of institution either to compete with the second class …
Persistent link: https://www.econbiz.de/10013148106
To reconcile the mixed empirical results, we develop a theoretical model whose main implication is a concave impact of regulation on the probability of a crisis. We test this relationship by applying a Probit model of a non-linear specification to annual data from 1999 to 2011 drawn from 132...
Persistent link: https://www.econbiz.de/10012030889
In this paper we focus on fair value measurements in the Financial Crisis and its (continuing) aftermath. We consider different ways of measuring fair value; and we use the experience of economies under stress, and where markets deviate significantly from textbook models of symmetric information...
Persistent link: https://www.econbiz.de/10012959838
period of economic expansion during which default rates were stable and low, deregulation and unsupervised financial …
Persistent link: https://www.econbiz.de/10003942985
The main objective of this paper is to suggest reform measures to address the gaps and weaknesses in emerging Asia's financial regulatory and supervisory systems, on the basis of lessons drawn from the global crisis. For emerging Asia, the direct impact of the global financial crisis has been...
Persistent link: https://www.econbiz.de/10011283456
period of economic expansion during which default rates were stable and low, deregulation and unsupervised financial …, Deregulation, Economic Stability, and Financial Crisis, Part I: The Evolution of Securitization.') …
Persistent link: https://www.econbiz.de/10013156908