Search results for "Output losse"

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Banking Crises and Short and Medium Term Output Losses in Emerging and Developing Countries: The Role of Structural and Policy Variables

2012

The aim of this paper is to assess the dynamic impact of banking crises on output for a panel of developing economies. Using an unbalanced panel of 159 countries from 1970 to 2006, the paper shows that banking crises produce significant output losses. Output losses are larger for relatively richer economies, characterized by a higher level of financial deepening and larger current account imbalances. Flexible exchange rates, fiscal and monetary policy, and liquidity support policies have been found to attenuate the effect of the crises. © 2012 Elsevier Ltd.

Economics and EconometricEconomics and EconometricsSociology and Political ScienceGeography Planning and DevelopmentMonetary policyFinancial crisiDeveloping countryCurrent accountMonetary economicsDevelopmentFinancial deepeningMarket liquidityMedium termOutput losseFinancial crisisDeveloping countrieEconomicsEmerging economieDevelopment3304 EducationEmerging marketsWorld Development
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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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