The Effects of Crisis Management Measures on the Economy: Evidence from Past Crises

Jonas Cekal () and Adam Gersl
Additional contact information
Jonas Cekal: Institute of Economic Studies, Faculty of Social Sciences, Charles University, Prague, Czech Republic

No 2025/10, Working Papers IES from Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies

Abstract: This paper deals with the effectiveness of crisis management measures used by national authorities to tackle a systemic banking crisis. Quarterly panel dataset of 69 countries over the time span 1970 to 2023 was created and a total of 54 crisis periods were examined based on the identification of various sources. The estimation employs two-way fixed effects model in difference-in-differences design to examine the effect of individual policies on the economy as represented by real GDP, house prices and credit. We find a significant effect of bank nationalizations and deposit freezes on the increases of real GDP growth and nominal house prices growth. On the contrary, we were not able to draw any conclusions from the analysis of the remaining measures such as liquidity support, bank recapitalizations or asset purchases.

Keywords: State financial support; Bailout; Economic growth; Financial stability; Systemic banking crisis (search for similar items in EconPapers)
JEL-codes: E65 G01 G21 G28 (search for similar items in EconPapers)
Pages: 52 pages
Date: 2025-06, Revised 2025-06
New Economics Papers: this item is included in nep-eec, nep-fdg and nep-his
References: Add references at CitEc
Citations:

Downloads: (external link)
https://ies.fsv.cuni.cz/en/effects-crisis-manageme ... evidence-past-crises (application/pdf)

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:fau:wpaper:wp2025_10

Access Statistics for this paper

More papers in Working Papers IES from Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies Contact information at EDIRC.
Bibliographic data for series maintained by Natalie Svarcova ().