THE 2008-2009 GLOBAL CRISIS: IMPACT ON BANKING AND INSURANCE

Halil D Kaya and Engku N Engkuchik
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Halil D Kaya: NORTHEASTERN STATE UNIVERSITY
Engku N Engkuchik: PRINCE SULTAN UNIVERSITY

Annals - Economy Series, 2022, vol. 4, 6-16

Abstract: This paper studies the impact of the 2008-2009 global crisis on banking and insurance industry, using relevant variables obtained from the Global Financial Development Database, including bank private credit, deposit money bank assets, deposit money bank assets to deposit money bank assets and central bank assets, liquid liabilities, central bank assets, financial system deposits, life and non-life insurance premium volumes, and private credit by deposit money banks and other financial institutions. Our study does not find any significant change in any of the variables of concerned before or during the crisis periods. However, we find that the ratio of liquid liabilities in the financial system to GDP increased significantly following the crisis period. Liquid liabilities comprise cash and demand deposits, and any easily convertible (into cash) liquid assets including fixed deposits, money market accounts, foreign exchange, marketable securities and government bills.

Keywords: economic crisis; global crisis; financial crisis; banking; insurance (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2022:v:4:p:6-16

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