Fragile by design: The Political Origins of Banking Crises and Scarce Credit

Непрочные по конструкции: политические причины банковских кризисов и дефицита кредитов

Calomiris, Charles W. (Каломирис, Чарльз) and Haber, Stephen H. (Хабер, Стивен Х.)
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Calomiris, Charles W. (Каломирис, Чарльз): Columbia Business School; Columbia’s School of International and Public Affairs
Haber, Stephen H. (Хабер, Стивен Х.): Hoover Institution at Stanford University

Ekonomicheskaya Politika / Economic Policy, 2016, vol. 4, 7-34

Abstract: Why are banking systems unstable in so many countries — but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues

Keywords: banking crises; credit crunch (search for similar items in EconPapers)
JEL-codes: D72 E44 G01 G21 N20 O16 O17 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (1)

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