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Banking Crises and Short and Medium Term Output Losses in Emerging and Developing Countries: The Role of Structural and Policy Variables
- Source :
- World Development. 40:2369-2378
- Publication Year :
- 2012
- Publisher :
- Elsevier BV, 2012.
-
Abstract
- The aim of this paper is to assess the dynamic impact of banking crises on output for a panel of developing economies. Using an unbalanced panel of 159 countries from 1970 to 2006, the paper shows that banking crises produce significant output losses. Output losses are larger for relatively richer economies, characterized by a higher level of financial deepening and larger current account imbalances. Flexible exchange rates, fiscal and monetary policy, and liquidity support policies have been found to attenuate the effect of the crises. © 2012 Elsevier Ltd.
- Subjects :
- Economics and Econometric
Economics and Econometrics
Sociology and Political Science
Geography, Planning and Development
Monetary policy
Financial crisi
Developing country
Current account
Monetary economics
Development
Financial deepening
Market liquidity
Medium term
Output losse
Financial crisis
Developing countrie
Economics
Emerging economie
Development3304 Education
Emerging markets
Subjects
Details
- ISSN :
- 0305750X
- Volume :
- 40
- Database :
- OpenAIRE
- Journal :
- World Development
- Accession number :
- edsair.doi.dedup.....6b095d7fec5c4fa6d342f91adfeadcae