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
a School of Computer Science, National Engineering Laboratory for Big Data Analysis and Applications, Peking University, Beijing, China
b Research Centre for Computational Social Science, Peking University, Beijing, China
c PKU-Haier "Smart Home" Qingdao Joint Innovation Lab, Institute of Computational Social Science, Peking University, Qingdao, China
d School of Economics and Management, Beijing Jiaotong University, Beijing, China
e School of Economics and Management, Beihang University, Beijing, China
f Key Laboratory of Complex System Analysis and Management Decision, Ministry of Education, Beijing, China
g School of Economics and Management, Lanzhou Jiaotong University, Lanzhou, China
h School 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 on bank risk measured as bank non-performing loan ratio. The introduction of an explicit deposit insurance system plays a significant role in reducing banks’ risk. However, the bank market development after the introduction of this system also increases banks’ risk. The impact of financial market development and deposit insurance system on banks’ risk was more significant before the 2008 financial crisis. It is found that there is a nonlinear relationship between financial market development, deposit insurance, financial crises and banks’ risk. The stock market development has an asymmetric effect on banks’ 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; Prepublished online: June 27, 2025; Published: March 9, 2023  Show citation

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Chang, Y., Yu, X., Shan, W., Wang, F., & Tao, Y. (2023). Impact of Financial Market Development, Financial Crises and Deposit Insurance on Bank Risk. Prague Economic Papers, 32(1), 1-25. doi: 10.18267/j.pep.820
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