چارچوبی برای تجزیه و تحلیل اصلاحات مالی و هزینه های شبکه های ایمنی رسمی

The paper builds a multiperiod, general equilibrium framework for analyzing the macroeconomic effects of financial reforms in developing countries and the costs of maintaining official safety nets. When the creditworthiness of the non-financial sector is weak, the efficiency gains from financial liberalization may be countered by an increase in expected deposit insurance funding obligations, even when prudential supervision is strong. Moreover, given the distortions in a repressed financial system, attempts to reduce risk exposures by increasing bank capital/asset ratios may increase the funding obligations associated with deposit insurance, particularly when the debt-servicing capacity of non-financial firms is low.