Do debt crises boost financial reforms?

Luca Agnello, João Tovar Jalles, Ricardo M. Sousa, Vitor Castro

Risultato della ricerca: Articlepeer review

8 Citazioni (Scopus)

Abstract

Using a panel of developed and developing countries and data for the period 1980 to 2005, we find that debt crises trigger financial reforms. We also show that (i) when general economic conditions deteriorate, financial reforms become more likely to take place; (ii) IMF-stabilization programmes and sovereign debt restructurings favour the implementation of financial reforms; and (iii) the quality of economic institutions strongly boosts financial reforms.
Lingua originaleEnglish
pagine (da-a)356-360
Numero di pagine5
RivistaApplied Economics Letters
Volume22
Stato di pubblicazionePublished - 2015

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

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