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Have more strictly regulated banking systems fared better during the recent financial crisis?

Ahrend, Rudiger and Arnold, Jens and Murtin, Fabrice (2009): Have more strictly regulated banking systems fared better during the recent financial crisis?

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Abstract

We assess whether during the recent financial crisis banking systems in countries with more stringent prudential banking regulation have proved more stable. We find indicators of regulatory strength to be relatively well correlated with the extent to which countries have escaped damage during the recent crisis, as measured either by the degree of equity value destruction in the banking sector or by the fiscal cost of financial sector rescue.

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