A new comprehensive database of financial crises: Identification, frequency, and duration

Thanh Cong Nguyen, Vitor Castro and Justine Wood

Economic Modelling, 2022, vol. 108, issue C

Abstract: This paper introduces a new database of financial crises, providing an important insight into the causes, duration, and consequences of different types of financial crises. Besides extending the systemic banking crises database by Laeven and Valencia (2020) to the period 1970–2019, we develop new approaches for the identification of currency and sovereign debt crises, which we regard as preferable in some respects to those in the literature. Covering 206 countries, our crises database draws on 151 systemic banking crises (1970–2019), 414 currency crises (1950–2019), 200 sovereign debt crises (1960–2019), 75 twin crises (1970–2019), and 21 triple crises (1970–2019). We provide evidence that banking and debt crises tend to coincide or precede currency crises, while debt crises and banking crises are less likely to coincide with or precede each other. We also find that advanced countries experienced longer banking crises but shorter currency, debt, twin, and triple crises.

Keywords: Crises identification; Types of financial crises; Crisis sequencing (search for similar items in EconPapers)
JEL-codes: E44 G01 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (35)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0264999322000165
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:108:y:2022:i:c:s0264999322000165

DOI: 10.1016/j.econmod.2022.105770

Access Statistics for this article

Economic Modelling is currently edited by S. Hall and P. Pauly

More articles in Economic Modelling from Elsevier
Bibliographic data for series maintained by Catherine Liu ().