The Effect of Institutional Quality on the Relationship between Banking Stability and Marketization: The Case of Iran

Document Type: Research Paper


Department of Economics, Shiraz University, Shiraz, Iran.


Banking system is considered as one of the most important economic sectors of every country. Because of the dependency between the performances of different sectors in economy, instability in banking sector will lead to disorder in all the other economic sectors. Marketization can influence banking stability. The primary objective of the present study is to investigate the relationship between marketization and banking stability in Iran. This study investigates the effect of institutional quality on the relationship between marketization and banking stability. Accordingly, the Generalized Method of Moments (GMM) and Panel Threshold Regression (PTR) techniques were used to estimate the models. The results of GMM indicated a decrease in banking stability after marketization. An improvement in institutional quality, however, could improve the relationship between marketization and banking stability. The results obtained by the PTR analysis revealed that institutional quality had a threshold value which could affect the relationship between marketization and banking stability and led to different relationships between marketization and banking stability under different regimes


Article Title [Persian]

بررسی تاثیر کیفیت نهادی بر رابطه بین ثبات بانکی و بازاری‌کردن: مطالعه موردی ایران

Authors [Persian]

  • پرویز رستم زاده
  • علی حسین صمدی
  • زینب یادگار
بخش اقتصاد، دانشگاه شیراز، شیراز، ایران.
Abstract [Persian]

بخش بانکی از جمله مهم‌ترین بخش‌ها در اقتصاد هر کشور به حساب می‌آید، بنابراین بی‌ثباتی در این بخش سبب اختلال در سایر بخش‌های اقتصاد می‌شود. یکی از عواملی که می‌تواند بر ثبات بانکی تاثیر بگذارد فرآیند بازاری‌کردن در نظام بانکی است. هدف اصلی این مقاله بررسی رابطه میان بازاری‌کردن و ثبات نظام بانکی در ایران و همچنین بررسی میزان اثر بخشی کیفیت نهادی بر رابطه بین این دو است. در برآوردها الگو از روش گشتاورهای تعمیم یافته (GMM) و رگرسیون آستانه‌ای در داده‌های پانلی (PTR) استفاده می‌شود. نتایج حاصل از روش گشتاورهای تعمیم یافته نشان می‌دهد که با بازاری‌کردن نظام بانکی، ثبات بانکی کاهش می‌یابد و افزایش کیفیت نهادی می‌تواند این رابطه را بهبود ببخشد. همچنین نتایج روش رگرسیونی آستانه‌ای در داده‌های پانلی نشان می‌دهد که کیفیت نهادی دارای یک مقدار آستانه‌ای برای تاثیر بر رابطه بازاری‌کردن و ثبات بانکی است که سبب می‌شود رابطه بازاری‌کردن و ثبات بانکی در دو رژیم مختلف، متفاوت باشد.

Keywords [Persian]

  • ثبات بانکی
  • کیفیت نهادی
  • بازاری‌کردن
  • رگرسیون آستانه‌ای پانلی
  • گشتاورهای تعمیم یافته
  • ایران

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