Impact of financial stress in advanced and emerging economies

Purpose The purpose of the paper is to examine differences in impact financial stress advanced and emerging economies. Design/methodology/approach authors employ a panel vector autoregression model (PVAR) for comparative analysis relationship between stress, economic growth monetary stability 14 A homogeneous measure constructed measured as an index that provides signals episodes economy. Findings shocks greater on economies; likewise, are significant only interbank interest rate negatively affected by In general, results show clear view importance relevance measures context macro-prudential regulation. Originality/value can be extended policy implement mitigate future crises.