Quality of Financial Policies and Financial System Stress

Author/Editor:

Udaibir S Das ; Plamen Yossifov ; Richard Podpiera ; Dmitriy L Rozhkov

Publication Date:

September 1, 2005

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

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.

Series:

Working Paper No. 05/173

Subject:

English

Publication Date:

September 1, 2005

ISBN/ISSN:

9781451861921/1018-5941

Stock No:

WPIEA2005173

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

49

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