Systemic Banking Crises Revisited

Luc Laeven and Fabian Valencia

No 2018/206, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; banking crisis; crisis; country; financial crisis; bank restructuring; crisis resolution; banking crises episode; debt crisis pair; banking crises date; crisis duration; banking crises duration; Banking crises; Systemic crises; Global financial crisis of 2008-2009; Bank resolution; Global (search for similar items in EconPapers)
Pages: 48
Date: 2018-09-14
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Citations: View citations in EconPapers (374)

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