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A blessing in disguise? Banking crises and institutional change.

In English

Författare

Summary, in English

Weak economic growth is a contributing factor behind many banking crises. In this paper, we test whether banking crises cause long-term institutional change aimed at improving macroeconomic performance and thus indirectly reduce the risk of future crises. Our dataset consists of 22 developed and 34 developing countries covering the period from 1985 to 2009. The results show that banking crises cause institutional change if GDP growth is below potential growth during the crisis. Approximately 40% of the change in institutional quality during the considered period occurred after a banking crisis. These results hold for both developed and developing countries.

Publiceringsår

2016-07

Språk

Engelska

Sidor

135-147

Publikation/Tidskrift/Serie

World Development

Volym

83

Dokumenttyp

Artikel i tidskrift

Förlag

Elsevier

Ämne

  • Economics

Nyckelord

  • banking crisis
  • institutions
  • economic growth
  • reforms

Status

Published

ISBN/ISSN/Övrigt

  • ISSN: 1873-5991