Politics and the determinants of banking crises: the effects of political checks and balances
There is likely to be little disagreement with the observation that political interference has exacerbated the problems associated with bank insolvencies. Nevertheless, most ot the analytical attention given to bank crises has focused on technocratic mistakes (inappropriate regulatory choices), exog...
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Banco Central de Chile
2019
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oai-20.500.12580-36382021-04-24T10:56:37Z Politics and the determinants of banking crises: the effects of political checks and balances Keefer, Philip CRISIS FINANCIERA BANCOS There is likely to be little disagreement with the observation that political interference has exacerbated the problems associated with bank insolvencies. Nevertheless, most ot the analytical attention given to bank crises has focused on technocratic mistakes (inappropriate regulatory choices), exogenous shocks, contagion effects, and other purely economic determinants of crisis. The implicit political economy assumption underpinning this work is that politicians in different countries generally respond similarly to politicial sector, so thet one need not control for political parameters when examining financial sector crises. This assumption is helful in isolating the relationships among economic variables. However, as a factual matter, the incentives of political actors differ significantly across countries. One way in which they differ, and which is the focus of this paper, is in the extent of checks and balances that they exhibit in government decisionmaking. 2019-11-01T00:01:36Z 2019-11-01T00:01:36Z 2002 Artículo 956-7421-072 https://hdl.handle.net/20.500.12580/3638 eng Serieson Central Banking, Analysis, and Economic Policies, no. 3 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 85-112 application/pdf Banco Central de Chile |
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Banco Central |
collection |
Banco Central |
language |
eng |
topic |
CRISIS FINANCIERA BANCOS |
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CRISIS FINANCIERA BANCOS Keefer, Philip Politics and the determinants of banking crises: the effects of political checks and balances |
description |
There is likely to be little disagreement with the observation that political interference has exacerbated the problems associated with bank insolvencies. Nevertheless, most ot the analytical attention given to bank crises has focused on technocratic mistakes (inappropriate regulatory choices), exogenous shocks, contagion effects, and other purely economic determinants of crisis. The implicit political economy assumption underpinning this work is that politicians in different countries generally respond similarly to politicial sector, so thet one need not control for political parameters when examining financial sector crises. This assumption is helful in isolating the relationships among economic variables. However, as a factual matter, the incentives of political actors differ significantly across countries. One way in which they differ, and which is the focus of this paper, is in the extent of checks and balances that they exhibit in government decisionmaking. |
format |
Artículo |
author |
Keefer, Philip |
author_facet |
Keefer, Philip |
author_sort |
Keefer, Philip |
title |
Politics and the determinants of banking crises: the effects of political checks and balances |
title_short |
Politics and the determinants of banking crises: the effects of political checks and balances |
title_full |
Politics and the determinants of banking crises: the effects of political checks and balances |
title_fullStr |
Politics and the determinants of banking crises: the effects of political checks and balances |
title_full_unstemmed |
Politics and the determinants of banking crises: the effects of political checks and balances |
title_sort |
politics and the determinants of banking crises: the effects of political checks and balances |
publisher |
Banco Central de Chile |
publishDate |
2019 |
url |
https://hdl.handle.net/20.500.12580/3638 |
work_keys_str_mv |
AT keeferphilip politicsandthedeterminantsofbankingcrisestheeffectsofpoliticalchecksandbalances |
_version_ |
1718346686553653248 |