Quality of Financial Policies and Financial System Stress

Udaibir Das, Plamen Yossifov, Richard Podpiera and Dmitriy Rozhkov
Authors registered in the RePEc Author Service: Пламен Йосифов

No 2005/173, IMF Working Papers from International Monetary Fund

Abstract: In this paper, we develop multi-country indices of financial system stress and quality of financial policies and use them in regression analysis of the determinants of financial stress. We find that countries with higher quality of financial policies are better able to contain the effects of macroeconomic pressures on the overall level of stress in the financial system. They are also in a better position to ensure sustainable development of the financial system.

Keywords: WP; financial system stress; financial system; stress indices; financial crises literature; Financial crises; financial stress; financial policies; financial system disruption; U.S. dollar; Currency markets; Commercial banks; Financial sector; Stock markets; Global (search for similar items in EconPapers)
Pages: 49
Date: 2005-09-01
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Citations: View citations in EconPapers (12)

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