The Effect of Financial Structure on Crises: Universal Banking in Interwar Europe

Muge Adalet

Koç University-TUSIAD Economic Research Forum Working Papers from Koc University-TUSIAD Economic Research Forum

Abstract: This paper examines the link between banking structure and financial fragility across Europe during the 1920s and 1930s using a new database. Monthly and annual data are analyzed to show that countries with universal banking were more likely to experience crises. Furthermore, those countries with universal banking, which have a crisis, are shown to experience a slowdown in their economic growth.

Keywords: Great Depression; Banking Crisis; Real Effects of Crises; Universal Banking (search for similar items in EconPapers)
JEL-codes: E44 G01 N24 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2009-10
New Economics Papers: this item is included in nep-ban, nep-cfn and nep-his
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Persistent link: https://EconPapers.repec.org/RePEc:koc:wpaper:0910

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