Systemic Banking Crises Revisited

IMF Working Papers, September 14, 2018

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Systemic Banking Crises Revisited

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Bibliographic details

• Authors: Luc Laeven, Fabian Valencia
• Published: September 14, 2018
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781484376379.001

Data scope and structure

• Database updates the systemic banking crises database presented in Laeven and Valencia (2008, 2013).
• Covers 151 systemic banking crises episodes around the globe during 1970-2017.
• Database includes:
  • Crisis dates.
  • Policy responses to resolve banking crises.
  • Fiscal and output costs of crises.

Key empirical findings

• Crises in high-income countries:
  • Tend to last longer.
  • Are associated with higher output losses.
  • Are associated with lower fiscal costs.
  • Feature more extensive use of bank guarantees.
  • Feature more extensive use of expansionary macro policies.
• Comparison statement:
  • The above patterns for high-income countries contrast with crises in low- and middle-income countries.
• Interaction with other crises:
  • Sovereign debt and currency crises tend to coincide with or follow banking crises.

Policy responses and coverage

• The database documents policy responses used to resolve banking crises, including:
  • Bank guarantees.
  • Expansionary macro policies.
  • (Other policy responses are recorded in the database.)

Content in this bundle

• Systemic Banking Crises Revisited, WP/18/206, September 2018
  • Systemic Banking Crises Revisited, WP/18/206, September 2018 (Markdown version)
  • Systemic Banking Crises Revisited, WP/18/206, September 2018 (PDF)