## Systemic Banking Crises Revisited

_IMF Working Papers, September 14, 2018_

## Source details

**Canonical URL:** [Systemic Banking Crises Revisited](https://www.imf.org/en/publications/wp/issues/2018/09/14/systemic-banking-crises-revisited-46232)

## Other formats

- [Markdown version](/en/publications/wp/issues/2018/09/14/systemic-banking-crises-revisited-46232/index.md)
- [Structured JSON version](/en/publications/wp/issues/2018/09/14/systemic-banking-crises-revisited-46232/index.json)
- [Bundle manifest](/en/publications/wp/issues/2018/09/14/systemic-banking-crises-revisited-46232/bundle-manifest.json)

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

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### 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.)

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## Content in this bundle

- **Systemic Banking Crises Revisited, WP/18/206, September 2018**
  - [Systemic Banking Crises Revisited, WP/18/206, September 2018 (Markdown version)](/-/media/files/publications/wp/2018/wp18206.pdf.md){rel="alternate" type="text/markdown"}
  - [Systemic Banking Crises Revisited, WP/18/206, September 2018 (PDF)](/-/media/files/publications/wp/2018/wp18206.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/wp/issues/2018/09/14/systemic-banking-crises-revisited-46232_