Systemic Banking Crises: A New Database

Laeven, Luc; Valencia, Fabián

doi:10.2139/ssrn.1278435

Cited by 268 publications

(19 citation statements)

References 24 publications

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“…FollowingRumler and Scharler (2011) as well as Dabla‐Norris and Srivisal (2013), we incorporate two additional variables that capture real shocks. First, we consider a banking crisis dummy derived from Laeven and Valencia (2018) who provide a database on systemic banking crises episodes. The dummy captures the occurrence of a financial crises within a five‐year interval.…”

Section: Methodology and Datamentioning

confidence: 99%

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Public and private pension systems and macroeconomic volatility in OECD countries

Holzner

Jestl

Pichler

2021

Scottish J Political Eco

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This paper analyses the impact of public pension expenditures and pension funds' assets as well as their benefits on economic volatility. To do so, we use panel data for 35 OECD countries for the period 1980-2018 and apply a set of state-of-the-art econometric estimators. Our results show weak evidence of a negative impact of public pension expenditures as well as weak evidence of a positive impact of pension funds' benefits on volatility. Results were, however, found not to be very robust. In contrast, pension funds' assets do not show any evidence of being associated with economic volatility. Unsystematic fiscal policy, banking crises and political (in)stability, however, are revealed to be somewhat more robust determinants of economic volatility.

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Section: Methodology and Datamentioning

confidence: 99%

“…Information on further covariates is used from the IMF World Economic Outlook Database which includes government expenditures, government balance and trade. In addition, the database of Laeven and Valencia (2018) provide information on banking crises over time. Finally, the Polity index is taken from the Polity IV Project.…”

Section: Methodology and Datamentioning

confidence: 99%

Public and private pension systems and macroeconomic volatility in OECD countries

Holzner

Jestl

Pichler

2021

Scottish J Political Eco

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“…14 Our definition of liquidity support differs from the one employed in Laeven and Valencia (2008), where liquidity support indicates liquidity support from the central bank. 15 For each type of intervention, our database collects a wide range of characteristics including the identity of the beneficiary, the intervention amount, the specific design of the measure, its remuneration and possible conditions for the beneficiary.…”

Section: Government Interventionsmentioning

confidence: 99%

Kicking the Can Down the Road: Government Interventions in the European Banking Sector

Acharya

Borchert

Jager

et al. 2020

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“…Following financial market expansion, the 2008 financial crisis wiped‐out growth mainly in advanced but also in some developing countries. The cost of systemic banking crises has thus been estimated to range between 13.3% and 50% of GDP in fiscal costs, net of recoveries, associated with crisis management (Arestis et al., 2005; Laeven & Valencia, 2008). Output losses (measured by deviations from trend GDP) are estimated to be an average 20% of GDP during the first 4 years of a crisis, and can be as high as 100%, as industries dependent on the financial sector in high‐income countries experience disproportionate negative growth (Laeven & Valencia, 2008).…”

Section: Disaggregation Of Forms Of Finance and Channels Of Impact In...mentioning

confidence: 99%

The finance‐growth nexus enigma: Bringing in institutional context and the productiveness debate

Itaman

2021

Journal of Economic Surveys

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This paper surveys the literature on the relationship between finance and growth, from the initial simple correlation through debates on causality and channels of impact to the more recent threshold analysis. The gaps in the revisionism regarding the relationship between finance and growth are critically teased out, not least neglect of the effects of speculative finance in developing countries where a positive nexus continues to hold sway in the threshold analysis. The paper argues that the literature has focused on pursuit of a positive nexus, with inadequate attention to institutional context, which is prerequisite for enhancing a positive relationship. It has also narrowed drastically the complexity of cause and effect and ignored broader analytical approaches to the relationship between finance and growth. The classical political economy debate on finance productiveness is drawn upon, in which positive contribution is based on real output, as a critical point of departure for why greater emphasis ought to be placed on institutional context to enhance the contribution of finance to growth.

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Systemic Banking Crises: A New Database

Cited by 268 publications

References 24 publications

Public and private pension systems and macroeconomic volatility in OECD countries

Public and private pension systems and macroeconomic volatility in OECD countries

Kicking the Can Down the Road: Government Interventions in the European Banking Sector

The finance‐growth nexus enigma: Bringing in institutional context and the productiveness debate

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