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

Europe’s banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discus

This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirica

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