{
  "title": "Systemic Banking Crises Revisited",
  "publication": "IMF Working Papers, September 14, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2018/09/14/systemic-banking-crises-revisited-46232",
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  "summary": "This paper updates the database on systemic banking crises presented in Laeven and Valencia (2008, 2013). Drawing on 151 systemic banking crises episodes around the globe during 1970-2017, the database includes information on crisis dates, policy responses to resolve banking crises, and the fiscal a",
  "sections": [
    {
      "heading": "Data scope and structure",
      "content": "- Database updates the systemic banking crises database presented in Laeven and Valencia (2008, 2013).\n- Covers 151 systemic banking crises episodes around the globe during 1970-2017.\n- Database includes:\n  - Crisis dates.\n  - Policy responses to resolve banking crises.\n  - Fiscal and output costs of crises."
    },
    {
      "heading": "Key empirical findings",
      "content": "- Crises in high-income countries:\n  - Tend to last longer.\n  - Are associated with higher output losses.\n  - Are associated with lower fiscal costs.\n  - Feature more extensive use of bank guarantees.\n  - Feature more extensive use of expansionary macro policies.\n- Comparison statement:\n  - The above patterns for high-income countries contrast with crises in low- and middle-income countries.\n- Interaction with other crises:\n  - Sovereign debt and currency crises tend to coincide with or follow banking crises."
    },
    {
      "heading": "Policy responses and coverage",
      "content": "- The database documents policy responses used to resolve banking crises, including:\n  - Bank guarantees.\n  - Expansionary macro policies.\n  - (Other policy responses are recorded in the database.)\n\n---\n\n Content in this bundle\n\n- Systemic Banking Crises Revisited, WP/18/206, September 2018\n  - Systemic Banking Crises Revisited, WP/18/206, September 2018 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Systemic Banking Crises Revisited, WP/18/206, September 2018 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2018/09/14/systemic-banking-crises-revisited-46232"
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    "[Markdown version](/en/publications/wp/issues/2018/09/14/systemic-banking-crises-revisited-46232/index.md)",
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    "Authors: Luc Laeven, Fabian Valencia",
    "Published: September 14, 2018",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781484376379.001",
    "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:",
    "Crises in high-income countries:",
    "Comparison statement:",
    "Interaction with other crises:",
    "The database documents policy responses used to resolve banking crises, including:",
    "**Systemic Banking Crises Revisited, WP/18/206, September 2018**"
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