The Resource International Capital Mobility and Financial Fragility - Part 3. How Do Structural Policies Affect Financial Crisis Risk? : Evidence from Past Crises Across OECD and Emerging Economies, Rudiger Ahrend and Antoine Goujard, (electronic resource)

International Capital Mobility and Financial Fragility - Part 3. How Do Structural Policies Affect Financial Crisis Risk? : Evidence from Past Crises Across OECD and Emerging Economies, Rudiger Ahrend and Antoine Goujard, (electronic resource)

Label
International Capital Mobility and Financial Fragility - Part 3. How Do Structural Policies Affect Financial Crisis Risk? : Evidence from Past Crises Across OECD and Emerging Economies
Title
International Capital Mobility and Financial Fragility - Part 3. How Do Structural Policies Affect Financial Crisis Risk?
Title remainder
Evidence from Past Crises Across OECD and Emerging Economies
Statement of responsibility
Rudiger Ahrend and Antoine Goujard
Creator
Contributor
Subject
Language
eng
Summary
This paper examines how structural policies can influence a country's risk of suffering financial turmoil. Using a panel of 184 developed and emerging economies from 1970 to 2009, the empirical analysis examines which structural policies can affect financial stability by either shaping the financial account structure, by reducing the risk of international financial contagion, or by directly reducing the risk of financial crises. Differentiated capital controls are found to affect financial stability via the structure of the financial account. Moreover, a number of structural policies including regulatory burdens on foreign direct investment, strict product market regulation, or tax systems which favour debt over equity finance are found to bias external financing towards debt, thereby increasing financial crisis risk. By contrast, more stringent domestic capital adequacy requirements for banks, greater reliance of a domestic banking system on deposits, controls on credit market inflows, and openness to foreign bank entry are found to reduce the vulnerability to financial contagion. Finally, vulnerability to international bank balance-sheet shocks is found to be lower in situations of abundant global liquidity, underlining the importance of adequate central bank reactions in situations of financial turmoil
Member of
Cataloging source
FR-PaOEC
http://library.link/vocab/creatorName
Ahrend, Rudiger
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
Goujard, Antoine
Series statement
OECD Economics Department Working Papers,
Series volume
no.966
http://library.link/vocab/subjectName
Economics
Label
International Capital Mobility and Financial Fragility - Part 3. How Do Structural Policies Affect Financial Crisis Risk? : Evidence from Past Crises Across OECD and Emerging Economies, Rudiger Ahrend and Antoine Goujard, (electronic resource)
Instantiates
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
800720922
Dimensions
21 x 30 cm
Extent
1 online resource 48 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5k97fmtj5vtk-en
Specific material designation
remote
System control number
(OCoLC)800720922
Label
International Capital Mobility and Financial Fragility - Part 3. How Do Structural Policies Affect Financial Crisis Risk? : Evidence from Past Crises Across OECD and Emerging Economies, Rudiger Ahrend and Antoine Goujard, (electronic resource)
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
800720922
Dimensions
21 x 30 cm
Extent
1 online resource 48 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5k97fmtj5vtk-en
Specific material designation
remote
System control number
(OCoLC)800720922

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