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Working papers from the Economics Department of the OECD that cover the full range of the Department’s work including the economic situation, policy analysis and projections; fiscal policy, public expenditure and taxation; and structural issues including ageing, growth and productivity, migration, environment, human capital, housing, trade and investment, labour markets, regulatory reform, competition, health, and other issues.
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International Capital Mobility and Financial Fragility - Part 7. Enhancing Financial Stability
Country-Specific Evidence on Financial Account and Structural Policy Positions
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- Rudiger Ahrend1, Carla Valdivia1
- Author Affiliations
- 1: OECD, France
- 20 June 2012
- Bibliographic information
This paper brings together the results from new empirical analysis on how – under international capital mobility – financial account structure and structural policies can contribute to financial stability. More specifically, the analysis has identified features of financial accounts and structural policy settings that are associated with financial fragility, and this paper presents information on these features and policy settings across a wide set of countries. A first set of charts present stability-relevant dimensions of the financial account for OECD economies and the BRIICS. A second set of charts shows how countries' financial account structure evolved in the decade prior to the global financial crisis, highlighting substantial increases in financial vulnerability in countries that were subsequently strongly affected by the crisis. Finally, a third set of charts presents countries' stances on selected structural policies that are conducive to financial stability.
- financial stability, external debt, financial account, capital controls, bank debt, banking regulations, FDI restrictions, structural policy
- JEL Classification:
- E44: Macroeconomics and Monetary Economics / Money and Interest Rates / Financial Markets and the Macroeconomy
- F34: International Economics / International Finance / International Lending and Debt Problems
- F36: International Economics / International Finance / Financial Aspects of Economic Integration
- G01: Financial Economics / General / Financial Crises
- G18: Financial Economics / General Financial Markets / Government Policy and Regulation