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This paper assesses whether and how financial development triggers the occurrence of banking crises. It builds on a database that includes financial development as well as financial access, depth and efficiency for almost 100 countries. Through estimation of a dynamic logit panel model, it appears that financial development, from an institutional dimension and to a lesser extent from a market dimension, triggers financial instability within a one- to two-year horizon. Additionally, whereas financial access is destabilizing for advanced countries, it is stabilizing for emerging and low income ones. Both results have important implications for macroprudential policies and financial regulations.

Finance --- Financial statistics --- Banks and Banking --- Econometrics --- Finance: General --- Financial Risk Management --- Macroeconomics --- Multiple or Simultaneous Equation Models: Models with Panel Data --- Financial Crises --- General Financial Markets: Government Policy and Regulation --- Financial Markets and the Macroeconomy --- Discrete Regression and Qualitative Choice Models --- Discrete Regressors --- Proportions --- Economic & financial crises & disasters --- Econometrics & economic statistics --- Financial sector development --- Banking crises --- Financial crises --- Logit models --- Systemic crises --- Financial markets --- Econometric analysis --- Financial services industry --- Econometric models --- United States