Exit strategies from the banking crisis: international experience

Ksenia Yudaeva, Maria Godunova, Konstantin Kozlov and Nadezhda Ivanova
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Ksenia Yudaeva: Sberbank of Russia
Maria Godunova: Sberbank of Russia
Konstantin Kozlov: Sberbank of Russia

Ekonomicheskaya Politika / Economic Policy, 2009, vol. 3, 98-149

Abstract: Banking crises - not uncommon in economic history. Only in the last thirty years, they have been reported more than a hundred. The crisis is usually preceded by a period of rapid growth in bank lending due to financial liberalization and the emergence of financial innovations. Often this period, accompanied by the development of speculative bubbles, especially in real estate and construction. Finally, crises often occur in countries with fixed exchange rates and experienced in the pre-crisis period of significant capital inflows. During the crisis, speculative bubbles are blown away, there is a sharp devaluation of the national currency, falling volumes of real GDP (on average by 6.3% considered in the review of a group of countries), reduced lending volumes compared to the size of GDP.

Keywords: banking crises; anking crises; growth; bubbles (search for similar items in EconPapers)
Date: 2009
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