This study examines the impact of government payment arrears accumulation on the stability of the banking industry, taking into account the role played by institutional quality in 17 selected SSA countries. The study employed a panel threshold regression model using data from World Bank and International Monetary Fund databases between 2005 and 2018. The key finding from the analysis indicates that arrears accumulation adversely affects banking sector stability, but with institutional quality, the effect is reduced. As a result, public policy should aim at clearing arrears and improving the quality of institutions.

中文翻译：

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国内欠款与金融稳定：制度因素的作用

本研究考察了政府支付拖欠累积对银行业稳定性的影响，同时考虑了 17 个选定的 SSA 国家的制度质量所起的作用。该研究使用世界银行和国际货币基金组织 2005 年至 2018 年数据库中的数据采用面板阈值回归模型。分析的主要发现表明，欠款积累对银行业稳定性产生不利影响，但随着制度质量的提高，这种影响会减弱。因此，公共政策应着眼于清偿欠款和提高机构质量。