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| Interest Rate Liberalization, Deposit Insurance and Systemic Banking Crises |
| WANG Daoping
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| School of Finance, Nankai University |
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Abstract Based on the panel Data of 88 countries from year 1970 to 2012, this paper examines the impact of interest rate liberalization and the explicit deposit insurance on the probability of systemic banking crises. The results shows that, interest rate liberalization tends to increase the likelihood of systemic banking crises; though after the interest rate fully liberalized, bank moral hazard caused by the explicit deposit insurance is high and the explicit deposit insurance’s financial stability effects is not obvious, and for the entire period the explicit deposit insurance’s preventive role of systemic banking crises is limited, the explicit deposit insurance will help to reduce the likelihood of systemic banking crises during the period of interest rate liberalization. In addition, the strengthening of banking supervision, designs intend to improve market discipline and prevent moral hazard, will increase explicit deposit insurance’s financial stability effects and help to prevent systemic banking crises.
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Received: 03 June 2014
Published: 01 January 1900
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