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Systemic Banking Crises Database; An Update
Fabian Valencia,Luc Laeven +1 more
TLDR
This article updated the widely used banking crisis database by Laeven and Valencia (2008, 2010) with new information on recent and ongoing crises, including updated information on policy responses and outcomes (i.e., fiscal costs, output losses, and increases in public debt).Abstract:
We update the widely used banking crises database by Laeven and Valencia (2008, 2010) with new information on recent and ongoing crises, including updated information on policy responses and outcomes (i.e. fiscal costs, output losses, and increases in public debt). We also update our dating of sovereign debt and currency crises. The database includes all systemic banking, currency, and sovereign debt crises during the period 1970-2011. The data show some striking differences in policy responses between advanced and emerging economies as well as many similarities between past and ongoing crises.read more
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Stress Testing: A Measure of Financial Stability across ASEAN-5
TL;DR: In this paper, the central banks of ASEANET design and conduct their own micro and macro stress tests as a measure of financial stability, and the main results of all three stress scenarios (i.e. baseline, adverse, and severely adverse) are not only informative to central banks and regulatory supervisors, but they contribute positively to the policy decision-making process; stress testing results also help bank executives (and risk managers) better manage risks, and academia for research.
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Together or apart? The relationship between currency and banking crises
TL;DR: In this paper, the authors provide empirical evidence on the links between currency and banking crises and find evidence of contemporaneous correlation between the two crises, and also confirm the theoretical links between banking and currency crises, but underline the importance of higher frequency data in analyzing the relationship between various financial crises.
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Capital inflows, monetary policy, and financial imbalances
Ouarda Merrouche,Erlend Nier +1 more
TL;DR: This paper investigated empirically three potential drivers of the build-up of financial imbalances: rising global imbalance (capital flows), loose monetary policy, and inadequate supervision and regulation, and found that differences in the build up of wholesale-funded credit were driven by the strength of capital inflows, whereas the effect of inflows on the buildup was amplified where the supervisory and regulatory environment was relatively weak.
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Liberalization, crisis and growth in MENA region: Do institutions matter?
TL;DR: In this paper, the authors investigated the interaction between financial liberalization, banking crisis and economic growth by taking into consideration the role of institutions in Middle East and North African observed during the period 2000-2013.
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Mortgage market credit conditions and U.S. Presidential elections
TL;DR: The authors found that voters punish incumbent presidential candidates for contractions in the county-level supply of mortgage credit during market-wide contractions of credit, but do not reward them for expansions in mortgage credit supply in boom times.