This study examines market discipline in Australian banks and the impact of the 2008 Australian deposit guarantee scheme. Two forms of depositor market discipline were investigated – a quantity impact whereby an increase in bank risk leads to lower deposit volumes, and a price impact whereby...

Prior studies have examined the development of the financial system and its impact on economic growth, but little has been said about the relationship between its four major components: banking, the stock market, the bond market (private and public bond) and insurance (life and nonlife). Using a...

Central bank independence and governance (CBIG) is a term subject to conflicting definitions and modelling and so its related studies are difficult to compare. This paper therefore focuses on developing of a workable definition, and a robust CBIG index model by identifying its key determinants....