Quality of Financial Policies and Financial System Stress

49 Pages Posted: 3 Mar 2006

See all articles by Udaibir Das

Udaibir Das

International Monetary Fund (IMF)

Plamen K. Iossifov

International Monetary Fund (IMF) - African Department

Richard Podpiera

International Monetary Fund (IMF); Charles University in Prague - CERGE-EI (Center for Economic Research and Graduate Education - Economics Institute)

Dmitriy Rozhkov

International Monetary Fund (IMF)

Date Written: August 2005

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: Financial crises, financial stress, financial policies

JEL Classification: G15, G18

Suggested Citation

Das, Udaibir and Iossifov, Plamen K. and Podpiera, Richard and Rozhkov, Dmitriy, Quality of Financial Policies and Financial System Stress (August 2005). IMF Working Paper, Vol. , pp. 1-49, 2005. Available at SSRN: https://ssrn.com/abstract=888042

Udaibir Das (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Plamen K. Iossifov

International Monetary Fund (IMF) - African Department ( email )

1700 19th Street, NW
Washington, DC 20431
United States

Richard Podpiera

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Charles University in Prague - CERGE-EI (Center for Economic Research and Graduate Education - Economics Institute) ( email )

P.O. Box 882
7 Politickych veznu
Prague 1, 111 21
Czech Republic
+42 02 240 05 242 (Phone)
+42 02 242 27 143 (Fax)

HOME PAGE: http://www.cerge-ei.cz

Dmitriy Rozhkov

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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