Can the upturns and downturns in financial variables serve as early warning indicators of banking crises? Using data from 59 advanced and emerging economies, we

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since ma

This study reviews the literature on the origins of currency and banking crises. It presents empirical tests on the performance of alternative early-warning ind

An empirical investigation of financial crises during the last 800 years.

The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a w