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This paper attempts to investigate empirically whether financial and macroeconomic stability of economies are … significantly affected by the structure of their financial systems, viz., bank-based and market-based structures. Using panel data … estimations based on data from 82 countries for the period of 1996-2012, we find that in general, bank-based financial system …
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relevant sectors (CPRSs)), and banking sector stability. We use temperature and precipitation climate data, identify 5 CPRSs … and their quarterly outputs, construct a banking sector stability index, and examine the time-varying linkages of these … variables. Effectively, we assess the response of banking sector stability to sectoral output shocks arising from physical and …
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