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IJFS
Special Issues
Banking Stability, Credit Risk and Financial Resilience in Emerging Markets
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Banking Stability, Credit Risk and Financial Resilience in Emerging Markets

A special issue of International Journal of Financial Studies (ISSN 2227-7072).

Deadline for manuscript submissions: 31 July 2026 | Viewed by 1930

Special Issue Editor

Dr. Maryem Naili

E-Mail Website
Guest Editor
School of Business Administration, Al Akhawayn University, Ifrane, Morocco
Interests: corporate finance; banking risk management; corporate governance; financial emerging markets

Special Issue Information

Dear Colleagues,

Emerging markets continue to face heightened financial vulnerabilities driven by global monetary tightening, geopolitical tensions, inflationary pressures, and structural institutional challenges. These dynamics have important implications for banking sector stability, credit risk, liquidity conditions, and the overall resilience of financial systems. This Special Issue seeks high-quality theoretical and empirical contributions that advance understanding of how banks, financial institutions, and regulators navigate evolving risks in emerging economies.

We welcome studies examining banking sector soundness, credit risk modeling, bank performance under stress, contagion channels, liquidity and funding risks, systemic risk measurement, and the transmission of global shocks to domestic financial systems. Research focusing on regulatory reforms, macroprudential policy, financial inclusion, and the impact of FinTech innovations on risk management and stability in emerging markets is also encouraged. Methodologically rigorous papers using advanced econometric techniques, stress-testing frameworks, natural experiments, or structural modeling are particularly welcome.

The aim of this Special Issue is to provide fresh insights into the determinants of resilience in emerging-market banking systems and to inform policy design that supports stability, risk mitigation, and sustainable financial development.

Dr. Maryem Naili
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 250 words) can be sent to the Editorial Office for assessment.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. International Journal of Financial Studies is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1800 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • banking stability
  • credit risk
  • financial resilience
  • emerging markets
  • systemic risk
  • liquidity and funding risk
  • macroprudential regulation

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Further information on MDPI's Special Issue policies can be found here.

Published Papers (3 papers)

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Research

16 pages, 447 KB  
Article
Do Credit and Liquidity Risks Interact to Shape Bank Stability? Evidence from an Emerging Banking System
by Sana’ Atari, Ruaa Bin Saddig and Bahaa Subhi Awwad
Int. J. Financial Stud. 2026, 14(5), 105; https://doi.org/10.3390/ijfs14050105 - 28 Apr 2026
Viewed by 475
Abstract
This paper examines whether the interaction between credit risk and liquidity conditions helps explain bank stability in a fragile and institutionally constrained banking environment. Using an annual panel of 13 Palestinian banks over 2011–2024 and measuring stability by the (log) Z-score, we estimate [...] Read more.
This paper examines whether the interaction between credit risk and liquidity conditions helps explain bank stability in a fragile and institutionally constrained banking environment. Using an annual panel of 13 Palestinian banks over 2011–2024 and measuring stability by the (log) Z-score, we estimate static panel models (pooled OLS, fixed effects, and random effects), a simultaneous two-stage least squares (2SLS) system to probe the direction of causality between credit risk and liquidity, and a dynamic panel GMM specification to address persistence and endogeneity. The static models show that credit risk is negatively associated with stability and that the interaction term is economically meaningful but not robust across static specifications. In the dynamic GMM model, credit risk remains significantly destabilizing, liquidity holdings are stabilizing, and the interaction term is positive and significant—consistent with liquidity buffers mitigating the adverse stability implications of higher credit risk. The 2SLS system suggests no strong contemporaneous reciprocal causality between credit risk and liquidity once controls are included, while regulatory and conflict-period dummies are associated with shifts in the risk profiles. The results highlight the importance of integrated risk management and liquidity buffers for banking stability in high-uncertainty contexts. Full article
(This article belongs to the Special Issue Banking Stability, Credit Risk and Financial Resilience in Emerging Markets)
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21 pages, 562 KB  
Article
The Double-Edged Effect of Bank Revenue Diversification: Insights from an Emerging Market
by Nour Alouane and Samira Haddou
Int. J. Financial Stud. 2026, 14(5), 102; https://doi.org/10.3390/ijfs14050102 - 23 Apr 2026
Viewed by 599
Abstract
This study investigates the impact of revenue diversification on the performance and stability of listed Tunisian banks over the period 2008–2023, with the objective of assessing whether diversification strategies enhance bank performance and promote financial stability in an emerging-market context. The analysis relies [...] Read more.
This study investigates the impact of revenue diversification on the performance and stability of listed Tunisian banks over the period 2008–2023, with the objective of assessing whether diversification strategies enhance bank performance and promote financial stability in an emerging-market context. The analysis relies on a panel dataset of Tunisian listed banks and employs a two-stage least squares (2SLS) estimation approach to address potential endogeneity issues, using ownership structure as an instrumental variable. Bank performance is measured by Return on Assets (ROA) and Net Interest Margin (NIM), while financial stability is captured by the Z-score. The empirical results show that revenue diversification has a positive and significant effect on bank performance, as measured by ROA, and on financial stability. However, it exerts a negative and significant impact on NIM, indicating that although diversification improves overall performance and strengthens stability, it may weaken traditional intermediation income. This study contributes to the limited literature on banking in emerging markets by jointly examining performance and stability effects while addressing endogeneity concerns through robust econometric techniques, and by providing new evidence from the Tunisian banking sector, which has experienced significant political and economic disruptions during the study period. Full article
(This article belongs to the Special Issue Banking Stability, Credit Risk and Financial Resilience in Emerging Markets)
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26 pages, 357 KB  
Article
Banking Sector Stability and Economic Growth in Ethiopia: The Two-Step System GMM Analysis
by Daba Geremew, Seid Muhammed and Prihoda Emese
Int. J. Financial Stud. 2026, 14(5), 101; https://doi.org/10.3390/ijfs14050101 - 22 Apr 2026
Viewed by 416
Abstract
This study investigates the relationship between banking sector stability and economic growth in Ethiopia, employing a dynamic panel data approach with the Two-Step System Generalized Method of Moments (GMM). The analysis uses a balanced dataset from 13 Ethiopian commercial banks covering 2014 to [...] Read more.
This study investigates the relationship between banking sector stability and economic growth in Ethiopia, employing a dynamic panel data approach with the Two-Step System Generalized Method of Moments (GMM). The analysis uses a balanced dataset from 13 Ethiopian commercial banks covering 2014 to 2023, gathered from the World Bank database, the National Bank of Ethiopia, and audited financial statements. Banking sector stability is assessed using indicators such as Z-score, non-performing loan (NPL) ratio, capital adequacy ratio (CAR), liquidity ratio (LR), return on assets (ROA), and loan-to-deposit ratio (LDR), along with key macroeconomic and institutional factors. The results show that banking stability, as indicated by Z-score, liquidity ratios, and profitability, has a positive and significant effect on economic growth, confirming the sector’s role in promoting development. Surprisingly, a positive correlation between NPLs and economic growth suggests unique structural features in the Ethiopian banking system that warrant further investigation. Other variables, such as inflation rates, government expenditure, and gross domestic savings, positively influence economic growth, whereas foreign direct investment is negatively associated with it. The study highlights the importance of enhancing the stability of the banking sector by implementing robust regulatory frameworks, prudent risk management practices, and improved profitability to support sustainable economic development in Ethiopia, while calling for additional research into the unexpected effects of NPLs and FDI amid ongoing financial reforms. Full article
(This article belongs to the Special Issue Banking Stability, Credit Risk and Financial Resilience in Emerging Markets)
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