Financial Liberalization and Financial Fragility

Financial Liberalization and Financial Fragility
A study of 53 countries during 1980-95 finds that financial liberalization increases the probability of a banking crisis, but less so where the institutional environment is strong. In particular, respect for the rule of law, a low level of corruption, and good contract enforcement are relevant institutional characteristics. The data also show... READ MORE...

Publication date: June 1998
ISBN 9781451850512
$15.00

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