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Halil Dincer Kaya

Abstract

We examine the impact of the 1997 Asian Crisis on governance. We look into how the crisis affected High-Income OECD, High-Income Non-OECD, Upper-middle Income, Lower- Middle Income, and Low Income Countries. For measures of governance, we use the World Bank’s Governance Indicators dataset which includes six measures of governance. We find that pre- and post-crisis, the ranking of each income group has not changed except for year 2004 when the High-Income Non-OECD Countries surpassed the High-Income OECD Countries in “Political Stability and Absence of Violence” category. In other words, our results show that, other than that exception in 2004, both pre- and post-crisis, the High-Income OECD Countries had the best governance measures, the High-Income Non-OECD Countries had the second best measures, and so on, in the order shown above. One point to note here: The High-Income Non- OECD Countries performed much better than the other groups after year 1998. After 1998, this group improved in all six dimensions of governance. We conclude that although crises affect all income groups, because of certain characteristics of the High-Income Non-OECD group, they tend to better react to crises.

Open access

Halil Dincer Kaya

Abstract

In this study, we examine the impact of the 2008 Global Crisis on “access to finance” in high-income OECD, high-income non-OECD, middle-income, and low-income countries. We use three measures of access to finance. These are “Number of bank branches per 100,000 adults”, “Value traded of top 10 traded companies to total value traded (%)”, and “Market capitalization outside of top 10 largest companies to total market capitalization (%)”. During the run-up to the crisis and immediately after the crisis, we do not find any significant change in any of the three “access to finance” measures. We find that, during the crisis, only middle-income countries were affected significantly. These countries were affected in only one of the measures which is “Value traded of top 10 traded companies to total value traded (%)”. This measure went up and this change is marginally significant. We conclude that the global crisis only affected “access to finance” in middle-income countries.

Open access

Halil Dincer Kaya

Abstract

In this study, we examine the regional impacts of the 1997 Asian Crisis on Governance. We use World Bank’s Worldwide Governance Indicators (i.e. WGI) which includes six dimensions of governance. These six dimensions are “Voice and Accountability”, “Political Stability and Absence of Violence”, “Government Effectiveness”, “Regulatory Quality”, “Rule of Law”, and “Control of Corruption”. The seven regions that we examine are North America, Europe and Central Asia, Latin America and Caribbean, East Asia and Pacific, South Asia, Sub-Saharan Africa, and Middle East and North Africa. Our findings show that, due to the crisis, while the overall rankings of Latin America and Caribbean, and Sub-Saharan Africa improved, the overall rankings of Europe and Central Asia, East Asia and Pacific, South Asia, and Middle East and North Africa declined. There was no change in the ranking of North America due to the crisis. Both pre- and post-crisis, North America has the highest ranking in all six measures of governance.