المستخلص: |
From the 1970s, emerging countries embarked on financial liberalization policies with a view to promoting growth. However, these policies can have adverse effects on the stability of banking systems. The central hypothesis of this article is that their impact on the stability of the banking system largely depends on the modalities of liberalization. The analysis focuses on a sample of seventeen emerging countries over the period 1990 2012. The interest of this period is that it allows not only to analyze the causes of these crisis but also to integrate new banking crisis such as those of South-East Asia (1997), Argentina (2001) and Turkey (2001) while most of the studies analyzed in the literature are limited to crisis that occurred before 1995. Then, using the logit method, we found that financial liberalization played an important role in explaining banking crisis and that economic growth reduces the probability of suffering a crisis. In addition, at the level of institutional variables, the more contracts are honored, the more the probability of suffering a banking crisis decreases.
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