Impact of Financial Market Development, Financial Crises and Deposit Insurance on Bank Risk (2024)

Prague Economic Papers 2023, 32(1):1-25|DOI:10.18267/j.pep.820

Impact of Financial Market Development, Financial Crises and Deposit Insurance on Bank Risk

Yiming Chang ORCID...^{a, b, c}, Xiangyuan Yu ORCID...^d, Wei Shan ORCID...^{e, f}, Fang Wang ORCID...^g, Yinying Tao ORCID...^h

^aSchool of Computer Science, National Engineering Laboratory for Big Data Analysis and Applications, Peking University, Beijing, China

^bResearch Centre for Computational Social Science, Peking University, Beijing, China

^cPKU-Haier "Smart Home" Qingdao Joint Innovation Lab, Institute of Computational Social Science, Peking University, Qingdao, China

^dSchool of Economics and Management, Beijing Jiaotong University, Beijing, China

^eSchool of Economics and Management, Beihang University, Beijing, China

^fKey Laboratory of Complex System Analysis and Management Decision, Ministry of Education, Beijing, China

^gSchool of Economics and Management, Lanzhou Jiaotong University, Lanzhou, China

^hSchool of Design and Fashion, Zhejiang University of Science and Technology, Hangzhou, China

This paper examines the impact of financial market development, financial crises and deposit insurance on bank risk based on macro data of 86 countries during the period 1998-2014. The results show that banking sector development and stock market development have opposing effects onbank risk measured asbank non-performing loan ratio. Theintroduction ofanexplicit deposit insurance system plays asignificant role inreducing banks’ risk. However, thebank market development after theintroduction ofthissystem also increases banks’ risk. Theimpact offinancial market development and deposit insurance system onbanks’ risk was more significant before the2008 financial crisis. Itis found that there is anonlinear relationship between financial market development, deposit insurance, financial crises and banks’ risk. Thestock market development has anasymmetric effect onbanks’ risk.

Keywords: Financial market development, financial crisis, deposit insurance, bank risk, nonlinear relationship

JEL classification: G21, G22, G32

Received: March 8, 2022; Revised: September 25, 2022; Accepted: January 1, 2023; Published: March 9, 2023 Show citation

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