Open AccessPosted Content
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
Citations
More filters
Journal ArticleDOI
Close encounters of the European kind: Economic integration, sectoral heterogeneity and structural reforms
TL;DR: This paper found that the Single Market has similar effects to the euro, and sectoral heterogeneity appears less important in explaining the economic impacts of reforms than country heterogeneity, and that the impact of these reforms vary more across sectors than across countries.
Journal ArticleDOI
Financial development and financial openness nexus: the precondition of banking competition
TL;DR: This article examined the relationship between financial development and financial openness using the pooled mean group estimator developed by Pesaran et al. They found that financial openness has a positive effect on financial development in the long run, but may have a negative effect in the short run.
Posted Content
Crises and Productivity in Good Booms and in Bad Booms
Gary Gorton,Guillermo Ordoñez +1 more
TL;DR: In this paper, the authors developed a simple framework to explain why some credit booms usually precede financial crises and other booms do not (good booms) and showed that, while all booms start with an increase in the growth of Total Factor Productivity (TFP), such growth falls much faster subsequently for bad booms.
Journal ArticleDOI
What makes banking crisis resolution difficult? Lessons from Japan and the Nordic Countries
Michael Diemer,Uwe Vollmer +1 more
TL;DR: In this article, the authors survey the literature analyzing the impact of single resolution instruments on moral hazard and fiscal costs and argue that no best-practice resolution package exists and that the implementation of a package is subject to coordination failures.
Journal ArticleDOI
Institutionalizing neoclassical economics in Africa: Instruments, ideology and implications
TL;DR: The post-war development economics drew broadly from an array of different theoretical approaches, including theorizing from the south as mentioned in this paper, and academic economists and policy makers in African countries openly...