Systemic Banking Crises Database

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Systemic Banking Crises Revisited

Mr.Luc Laeven,Mr.Fabian Valencia
Systemic Banking Crises Revisited Book PDF

Author : Mr.Luc Laeven,Mr.Fabian Valencia
Publisher : International Monetary Fund
Page : 48 pages
File Size : 51,6 Mb
Release : 2018-09-14
Category : Business & Economics
ISBN : 9781484377048

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Systemic Banking Crises Revisited by Mr.Luc Laeven,Mr.Fabian Valencia Pdf

This paper updates the database on systemic banking crises presented in Laeven and Valencia (2008, 2013). Drawing on 151 systemic banking crises episodes around the globe during 1970-2017, the database includes information on crisis dates, policy responses to resolve banking crises, and the fiscal and output costs of crises. We provide new evidence that crises in high-income countries tend to last longer and be associated with higher output losses, lower fiscal costs, and more extensive use of bank guarantees and expansionary macro policies than crises in low- and middle-income countries. We complement the banking crises dates with sovereign debt and currency crises dates to find that sovereign debt and currency crises tend to coincide or follow banking crises.

Systemic Banking Crises Database

Mr.Luc Laeven,Mr.Fabian Valencia
Systemic Banking Crises Database Book PDF

Author : Mr.Luc Laeven,Mr.Fabian Valencia
Publisher : International Monetary Fund
Page : 33 pages
File Size : 46,5 Mb
Release : 2012-06-01
Category : Business & Economics
ISBN : 9781475505054

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Systemic Banking Crises Database by Mr.Luc Laeven,Mr.Fabian Valencia Pdf

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.

Systemic Banking Crises Database

Luc Laeven,Fabian Valencia
Systemic Banking Crises Database Book PDF

Author : Luc Laeven,Fabian Valencia
Publisher : Unknown
Page : 59 pages
File Size : 50,9 Mb
Release : 2020
Category : Bank management
ISBN : OCLC:1149013263

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Systemic Banking Crises Database by Luc Laeven,Fabian Valencia Pdf

This paper updates the database on systemic banking crises presented in Laeven and Valencia (2013a). Drawing on 151 systemic banking crises episodes around the globe during 1970-2017, the database includes information on crisis dates, policy responses to resolve banking crises, and the fiscal and output costs of crises. We provide new evidence that crises in high-income countries tend to last longer and be associated with higher output losses, lower fiscal costs, and more extensive use of bank guarantees and expansionary macro policies than crises in low- and middle-income countries. We complement the banking crises dates with sovereign debt and currency crises dates to find that sovereign debt and currency crises tend to coincide with or follow banking crises.

Systemic Banking Crises

Luc Laeven,Fabian Valencia
Systemic Banking Crises Book PDF

Author : Luc Laeven,Fabian Valencia
Publisher : International Monetary Fund
Page : 80 pages
File Size : 42,6 Mb
Release : 2008-09
Category : Business & Economics
ISBN : IND:30000111371310

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Systemic Banking Crises by Luc Laeven,Fabian Valencia Pdf

We provide new firm-level evidence on the effects of capital account liberalization. Based on corporate foreign-currency credit ratings data and a novel capital account restrictions index, we find that capital controls can substantially limit access to, and raise the cost of, foreign currency debt, especially for firms without foreign currency revenues. As an identification strategy, we exploit, via a difference-in-difference approach, within-country variation in firms' access to foreign currency, measured by whether or not a firm belongs to the nontradables sector. Nontradables firms benefit substantially more from capital account liberalization than others, a finding that is robust to a broad range of alternative specifications.

Systemic Banking Crises Database

Mr.Luc Laeven,Mr.Fabian Valencia
Systemic Banking Crises Database Book PDF

Author : Mr.Luc Laeven,Mr.Fabian Valencia
Publisher : INTERNATIONAL MONETARY FUND
Page : 0 pages
File Size : 55,8 Mb
Release : 2012-06-01
Category : Business & Economics
ISBN : 1475505051

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Systemic Banking Crises Database by Mr.Luc Laeven,Mr.Fabian Valencia Pdf

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.

Systemic Financial Crises

Patrick Honohan,Luc Laeven
Systemic Financial Crises Book PDF

Author : Patrick Honohan,Luc Laeven
Publisher : Cambridge University Press
Page : 412 pages
File Size : 46,9 Mb
Release : 2005-09-26
Category : Business & Economics
ISBN : 9781107320826

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Systemic Financial Crises by Patrick Honohan,Luc Laeven Pdf

Faced with a systemic financial sector crisis, policymakers need to make difficult choices under pressure. Based on the experience of many countries in recent years, few have been able to achieve a speedy, lasting and low-cost resolution. This volume considers the strengths and weaknesses of the various policy options, covering both microeconomic (including recapitalization of banks, bank closures, subsidies for distressed borrowers, capital adequacy rules and corporate governance and bankruptcy law requirements) and macroeconomic (including monetary and fiscal policy) dimensions. The contributors explore the important but little understood trade-offs that are involved, such as between policies which take effect quickly, those which minimize long-term fiscal and economic costs, and those which create favorable incentives for future stability. Successfully implementing crisis management and crisis resolution policy required attention to detail and a good flow of information.

This Time Is Different

Carmen M. Reinhart,Kenneth S. Rogoff
This Time Is Different Book PDF

Author : Carmen M. Reinhart,Kenneth S. Rogoff
Publisher : Princeton University Press
Page : 513 pages
File Size : 46,7 Mb
Release : 2011-08-07
Category : Business & Economics
ISBN : 9780691152646

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This Time Is Different by Carmen M. Reinhart,Kenneth S. Rogoff Pdf

An empirical investigation of financial crises during the last 800 years.

Managing Systemic Banking Crises

Ms.Marina Moretti,Mr.Marc C Dobler,Mr.Alvaro Piris Chavarri
Managing Systemic Banking Crises Book PDF

Author : Ms.Marina Moretti,Mr.Marc C Dobler,Mr.Alvaro Piris Chavarri
Publisher : International Monetary Fund
Page : 88 pages
File Size : 54,9 Mb
Release : 2020-02-11
Category : Business & Economics
ISBN : 9781513512273

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Managing Systemic Banking Crises by Ms.Marina Moretti,Mr.Marc C Dobler,Mr.Alvaro Piris Chavarri Pdf

This paper updates the IMF’s work on general principles, strategies, and techniques from an operational perspective in preparing for and managing systemic banking crises in light of the experiences and challenges faced during and since the global financial crisis. It summarizes IMF advice concerning these areas from staff of the IMF Monetary and Capital Markets Department (MCM), drawing on Executive Board Papers, IMF staff publications, and country documents (including program documents and technical assistance reports). Unless stated otherwise, the guidance is generally applicable across the IMF membership.

Managing Systemic Banking Crises

Mr.Marc Quintyn,Mr.David S. Hoelscher
Managing Systemic Banking Crises Book PDF

Author : Mr.Marc Quintyn,Mr.David S. Hoelscher
Publisher : International Monetary Fund
Page : 73 pages
File Size : 48,9 Mb
Release : 2003-08-28
Category : Business & Economics
ISBN : 9781589062245

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Managing Systemic Banking Crises by Mr.Marc Quintyn,Mr.David S. Hoelscher Pdf

Recent financial sector crises and their resolution have raised new issues and provided additional experiences to draw on in the future. Banking sector problems in Russia, Turkey, and a few Latin American countries occurred within the context of highly dollarized economies, high levels of sovereign debt, severely limited fiscal resources, or combinations thereof. These factors have challenged the effectiveness of many of the typical tools for bank resolution. This publication focuses on the issues raised in systemic crises, not on the resolution of individual bank problems. Based on the lessons learned during the Asian crisis, it updates the IMF’s work on the general principles, strategies, and techniques for managing these crises.

Resolution of Banking Crises

Mr.Luc Laeven,Mr.Fabian Valencia
Resolution of Banking Crises Book PDF

Author : Mr.Luc Laeven,Mr.Fabian Valencia
Publisher : International Monetary Fund
Page : 37 pages
File Size : 53,5 Mb
Release : 2010-06-01
Category : Business & Economics
ISBN : 9781455201297

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Resolution of Banking Crises by Mr.Luc Laeven,Mr.Fabian Valencia Pdf

This paper presents a new database of systemic banking crises for the period 1970-2009. While there are many commonalities between recent and past crises, both in terms of underlying causes and policy responses, there are some important differences in terms of the scale and scope of interventions. Direct fiscal costs to support the financial sector were smaller this time as a consequence of swift policy action and significant indirect support from expansionary monetary and fiscal policy, the widespread use of guarantees on liabilities, and direct purchases of assets. While these policies have reduced the real impact of the current crisis, they have increased the burden of public debt and the size of government contingent liabilities, raising concerns about fiscal sustainability in some countries.

From Systemic Banking Crises to Fiscal Costs

Mr.David Amaglobeli,Mr.Nicolas End,Mariusz Jarmuzek,Mr.Geremia Palomba
From Systemic Banking Crises to Fiscal Costs Book PDF

Author : Mr.David Amaglobeli,Mr.Nicolas End,Mariusz Jarmuzek,Mr.Geremia Palomba
Publisher : International Monetary Fund
Page : 43 pages
File Size : 42,9 Mb
Release : 2015-07-20
Category : Business & Economics
ISBN : 9781513529356

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From Systemic Banking Crises to Fiscal Costs by Mr.David Amaglobeli,Mr.Nicolas End,Mariusz Jarmuzek,Mr.Geremia Palomba Pdf

This paper examines the risk factors associated with fiscal costs of systemic banking crises using cross-country data. We differentiate between immediate direct fiscal costs of government intervention (e.g., recapitalization and asset purchases) and overall fiscal costs of banking crises as proxied by changes in the public debt-to-GDP ratio. We find that both direct and overall fiscal costs of banking crises are high when countries enter the crisis with large banking sectors that rely on external funding, have leveraged non-financial private sectors, and use guarantees on bank liabilities during the crisis. The better quality of banking supervision and the higher coverage of deposit insurance help, however, alleviate the direct fiscal costs. We also identify a possible policy trade-off: costly short-term interventions are not necessarily associated with larger increases in public debt, supporting the thesis that immediate intervention may be actually cost-effective over time.

Resolving Systemic Financial Crises

Daniela Klingebiel
Resolving Systemic Financial Crises Book PDF

Author : Daniela Klingebiel
Publisher : World Bank Publications
Page : 38 pages
File Size : 46,8 Mb
Release : 2004
Category : Banks and banking
ISBN : 9782004090713

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Resolving Systemic Financial Crises by Daniela Klingebiel Pdf

"Claessens, Klingebiel, and Laeven analyze the role of institutions in resolving systemic banking crises for a broad sample of countries. Banking crises are fiscally costly, especially when policies like substantial liquidity support, explicit government guarantees on financial institutions' liabilities, and forbearance from prudential regulations are used. Higher fiscal outlays do not, however, accelerate the recovery from a crisis. Better institutions--less corruption, improved law and order, legal system, and bureaucracy--do. The authors find these results to be relatively robust to estimation techniques, including controlling for the effects of a poor institutional environment on the likelihood of financial crisis and the size of fiscal costs. Their results suggest that countries should use strict policies to resolve a crisis and use the crisis as an opportunity to implement medium-term structural reforms, which will also help avoid future systemic crises. This paper--a product of the Financial Sector Operations and Policy Department--is part of a larger effort in the department to study financial crisis resolution"--World Bank web site.

Managing the Sovereign-Bank Nexus

Mr.Giovanni Dell'Ariccia,Caio Ferreira,Nigel Jenkinson,Mr.Luc Laeven,Alberto Martin,Ms.Camelia Minoiu,Alex Popov
Managing the Sovereign Bank Nexus Book PDF

Author : Mr.Giovanni Dell'Ariccia,Caio Ferreira,Nigel Jenkinson,Mr.Luc Laeven,Alberto Martin,Ms.Camelia Minoiu,Alex Popov
Publisher : International Monetary Fund
Page : 54 pages
File Size : 49,8 Mb
Release : 2018-09-07
Category : Business & Economics
ISBN : 9781484359624

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Managing the Sovereign-Bank Nexus by Mr.Giovanni Dell'Ariccia,Caio Ferreira,Nigel Jenkinson,Mr.Luc Laeven,Alberto Martin,Ms.Camelia Minoiu,Alex Popov Pdf

This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? What do we know about it? To what extent is it a source of concern? What is the role of policy intervention? The paper concludes with a review of recent policy proposals.

Systemic Financial Crises

Douglas Darrell Evanoff,George G. Kaufman
Systemic Financial Crises Book PDF

Author : Douglas Darrell Evanoff,George G. Kaufman
Publisher : World Scientific
Page : 474 pages
File Size : 40,7 Mb
Release : 2005
Category : Business & Economics
ISBN : 9789812563484

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Systemic Financial Crises by Douglas Darrell Evanoff,George G. Kaufman Pdf

Bank failures, like illness and taxes, are almost a certainty at some time in the future. What is less certain is their cost to and adverse implications for macroeconomies. Past failures have frequently been resolved at very high cost to society. However, the cost could be reduced through having a well-developed, credible and widely publicized plan ready to put into action by policymakers. If no such plan is ready when a large bank approaches insolvency, political pressures are likely to influence the response of regulators.Minimizing immediate, short-run costs are likely to outweigh minimizing further out, longer-run and longer-lasting costs, even if these delayed costs promise to be substantially greater. Stated differently, today will win out over tomorrow and politics will trump economics. How best to prevent such unfavorable outcomes is the major theme of this volume. The articles presented review past insolvency resolutions, draw lessons from these resolutions, discuss impediments to efficient resolutions ? including cross-country, cross-regulator, and institutional challenges ? and recommend how to move forward.

Controlling the Fiscal Costs of Banking Crises

Patrick Honohan,Daniela Klingebiel
Controlling the Fiscal Costs of Banking Crises Book PDF

Author : Patrick Honohan,Daniela Klingebiel
Publisher : World Bank Publications
Page : 40 pages
File Size : 52,7 Mb
Release : 2000
Category : Bank
ISBN : 8210379456XXX

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Controlling the Fiscal Costs of Banking Crises by Patrick Honohan,Daniela Klingebiel Pdf

In recent decades, a majority of countries have experienced a systemic banking crisis requiring a major-and expensive-overhaul of their banking system. Not only do banking crises hit the budget with outlays that must be absorbed by higher taxes (or spending cuts), but they are costly in terms of forgone economic output. Many different policy recommendations have been made for limiting the cost of crises, but there has been little systematic effort to see which recommendations work in practice. The authors try to quantify the extent to which fiscal outlays incurred in resolving banking distress can be attributed to crisis management measures of a particular kind adopted by the government in the early years of the crisis. They find evidence that certain crisis management strategies appear to add greatly to fiscal costs: unlimited deposit guarantees, open-ended liquidity support, repeated recapitalization, debtor bail-outs, and regulatory forbearance. Their findings clearly tilt the balance in favor of a strict rather than an accommodating approach to crisis resolution. At the very least, regulatory authorities who choose an accommodating or gradualist approach to an emerging crisis must be sure they have some other way to control risk-taking.