supervision, financial crises, and economic development, mainly because of the lack of comparable measures to describe regulatory … regulatory and supervisory framework in affecting financial fragility and economic performance …

To cope with the self-fulfilling liquidity runs that triggered many recent financial crises, we propose the creation of …

We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new … comprehensive chronology of financial liberalization in 28 mature and emerging market economies since 1973. We also construct an … algorithm to identify booms and busts in stock market prices. Our results indicate that financial liberalization is followed by …

The main objective of this paper is to propose a definition of financial stability that has some practical and … operational relevance. Financial stability is defined in terms of its ability to facilitate and enhance economic processes, manage … risks, and absorb shocks. Moreover, financial stability is considered a continuum: changeable over time and consistent with …

This paper assesses the effect of constrained trade finance on trade flows in countries undergoing financial and …-related finance declined sharply. However, trade may also be affected by other variables such as world demand, domestic demand … constrained trade finance on trade flows, we estimate import and export volume equations including explicitly trade financing as …

We construct a financial vulnerability indicator that is consistent with the theoretical literature on determinants of … does a country''s financial vulnerability. The indicator has a higher correlation with default episodes than other …

Stress testing is becoming a widely used tool to assess potential vulnerabilities in a financial system. This paper is … discussion of stress testing in a financial system context, highlighting some of the differences between stress tests of systems … Financial Sector Assessment Program (FSAP) is also discussed …

This paper uses flow-of-funds and balance sheet data to analyze the impact of financial crises on corporate financing …