Analysis of the recovery of the financial system after the global crisis of the early 21st century: a longitudinal comparison. An allegory of the great depression. (part 1)

This article examines the context of governance and financial institutions with various aspects of the country’s financial system before and after the crisis. Using a regression model with fixed effects for panel data and a comparative perspective, we estimate longitudinal trends in the functioning of financial systems. This simulation allows us to explore how the level of development of 118 countries and conditions related to political stability, the quality of regulation and the rule of law could affect the results of the financial system. We have studied the results of the financial system by several parameters: financial depth, efficiency, stability and financial inclusion. The results indicate that the explanatory variables had limited statistical significance for indirect indicators of the results of the financial system.