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 …

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 … of financial reform reduce the likelihood of systemic crises. We also show that after a country has reformed, the …