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Banking Crisis in Historical Prespective

 
R.N. Pani (Author)
Synopsis The historical frequency of baking crises is quite similar in high- and middle-to-low-income countries, with quantitative and qualitative parallels in both the run-ups and the aftermath. We establish these regularities using a unique dataset spanning from Denmark's financial panic during the Napoleonic War to the ongoing global financial crisis sparked by subprime mortgage defaults in the United states. Banking crises dramatically weaken fiscal positions in both groups, with government revenues invariably contracting, and fiscal expenditures often expanding sharply. There years after a financial crisis central government debt increases, on average, by about 86 percent. Thus the fiscal burden of banking crisis extends far beyond the commonly cited cost of the bailouts. Our new dataset includes housing price data for emerging markets; these allow us to show that the real estate price cycles around banking crises are similar in duration and amplitude to those in advanced economies, with the busts averaging four to six years. Corroborating earlier work, we find that systemic banking crises are typically preceded by asset price bubbles, large capital inflows and credit booms, in rich and poor countries alike.
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About the author

R.N. Pani

Dr. R.N. Pani hold his MBA and Ph.D Degrre from University of California. He is a Professor nin Management College of Bangalore formerly in Delhi. He has Delevered several lectures on IMF and World Bank. He has written number of articles for newspaper and Journals. Few books on the subject are also there to his credit. He is also Visiting professor in management college of Lucknow.

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Bibliographic information

Title Banking Crisis in Historical Prespective
Author R.N. Pani
Format Hardcover
Date published: 25.06.2009
Edition 1st ed.
Publisher ALP Books
Language: English
isbn 9788190851800
length iv+173p., Tables; 22cm.