Search results for "Debt crises"

showing 3 items of 3 documents

Financial crises in Spain: lessons from the last 150 years

2012

Financial crises are not unique to current financial systems. Are crises alike? Have they become more frequent, longer lasting and more severe since the 20th century? What does history tell us? The objective of this paper is to study the financial crises that have occurred in Spain over the last 150 years. We consider different types of crises (banking, currency and stock market crises), together with all their possible combinations, estimate their frequency by period and measure their length and depth. The main conclusion we obtain is that Spanish crises have been more frequent than in the rest of the world and have been more severe and more complex since 1973, as the 2007 crisis is confir…

Economics and EconometricsHistoryHistoryCrisis cambiariasEspañaN20Stock market crisesBanking crisesjel:N2HistoriaEconomíaRest (finance)Financial historyfinancial crises currency banking stock market and debt crises Spanish banking history.FinanceCurrency crisesCrisis bancariasbusiness.industryHistoria financieraCurrencySpainjel:G18Stock marketCrisis bursátilesG01business
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Do debt crises boost financial reforms?

2014

"Published online: 15 Aug. 2014"

G28Economics and EconometricsParis Clubmedia_common.quotation_subjectN20Social SciencesDeveloping countryInstitutional qualityRecessionIMF stabilization programmesDebt0502 economics and businessEconomics050207 economicsSovereign debtmedia_commonFinanceFinancial reforms050208 financeP11business.industry05 social sciencesRecessionsCiências Sociais::Economia e Gestão1. No povertyInstitutional economicsSettore SECS-P/02 Politica EconomicaP16P34financial reforms debt crises recessions IMF stabilization programmes Paris Club institutional qualityDebt crises8. Economic growth:Economia e Gestão [Ciências Sociais]Internal debtbusinessInstitutional qualityApplied Economics Letters
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How costly are debt crises?

2011

The aim of this paper is to assess the short- and medium-term impact of debt crises on GDP. Using an unbalanced panel of 154 countries from 1970 to 2008, the paper shows that debt crises produce significant and long-lasting output losses, reducing output by about 10 percent after eight years. The results also suggest that debt crises tend to be more detrimental than banking and currency crises. The significance of the results is robust to different specifications, identification and endogeneity checks, and datasets.

Western hemisphereEconomics and Econometricsmedia_common.quotation_subjectjel:E60Settore SECS-P/02 Politica EconomicaMonetary economicsEconomic models;Sovereign debt;Gross domestic product;output losses debt crises sovereign defaults debt crisis currency crises crisis episodes currency crisisCurrency crisisGross domestic productjel:G10Identification (information)Output Losses; Debt Crises; Sovereign Defaults.CrisesCurrencyDebtEconomicsGeneral Earth and Planetary SciencesDefaultEconomic modelEndogeneityFinanceGeneral Environmental ScienceDebt crisismedia_common
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