Our study shows that financial liberalization has been followed by a profound transformation and banking system fragility. Our investigation test seeks to determine the fragility index of the Tunisian banking system over the period post liberalization. Our investigation is resulting from the study of Kibritcioglu (2002) which consist of an aggregation of three variables which reflect the symptom of a banking crisis. Our results showed a causality relation between financial liberalization and the banking systems fragility. We argued a period of high fragility starting from 1986 (date of the liberalization process adoption in Tunisia).
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