The paper studies the factors associated with the emergence of systemic banking crises in a large sample of developed and developing countries in 1980–94, usi

This paper investigates whether banking crises are associated with declines in bilateral exports. We first develop a simple open economy model in which banking

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 paper empirically analyzes the contribution of microeconomic and macroeconomic factors in five recent episodes of banking system problems in the U.S. South

A study of 53 countries during 1980-95 finds that financial liberalization increases the probability of a banking crisis, but less so where the institutional en