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Banking Crises and Exports : Lessons From the Past / Iacovone, Leonardo
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Iacovone, Leonardo
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Access to Finance.
- Banking crises.
- Banking crisis.
- Banking system.
- Bankruptcy and Resolution of Financial Distress.
- Banks and Banking Reform.
- Checks.
- Currencies and Exchange Rates.
- Debt Markets.
- Developing countries.
- Durable goods.
- Economic Theory and Research.
- Emerging Markets.
- Export growth.
- Exporters.
- External finance.
- Finance and Financial Sector Development.
- Financial crises.
- Financial crisis.
- Financial development.
- Financial distress.
- Financial Intermediation.
- Financial support.
- Financial system.
- International bank.
- International trade.
- Investment and Investment Climate.
- Labor Policies.
- Macroeconomics and Economic Growth.
- Private Sector Development.
- Social Protections and Labor.
- Tangible assets.
- Trading.
- Local Subjects:
- Access to Finance.
- Banking crises.
- Banking crisis.
- Banking system.
- Bankruptcy and Resolution of Financial Distress.
- Banks and Banking Reform.
- Checks.
- Currencies and Exchange Rates.
- Debt Markets.
- Developing countries.
- Durable goods.
- Economic Theory and Research.
- Emerging Markets.
- Export growth.
- Exporters.
- External finance.
- Finance and Financial Sector Development.
- Financial crises.
- Financial crisis.
- Financial development.
- Financial distress.
- Financial Intermediation.
- Financial support.
- Financial system.
- International bank.
- International trade.
- Investment and Investment Climate.
- Labor Policies.
- Macroeconomics and Economic Growth.
- Private Sector Development.
- Social Protections and Labor.
- Tangible assets.
- Trading.
- Physical Description:
- 1 online resource (43 pages)
- Other Title:
- Banking Crises And Exports
- Place of Publication:
- Washington, D.C., The World Bank, 2009
- System Details:
- data file
- Summary:
- This paper analyzes the impact of banking crises on manufacturing exports exploiting the fact that sectors differ in their needs for external financing. Relying on data from 23 banking crises episodes involving both developed and developing countries during the period 1980-2000 the authors separate the impact of banking crises on export growth from that of other exogenous shocks (i.e. demand shocks). Their findings show that during a crisis the export of sectors more dependent on external finance grow significantly less than other sectors. However, this result holds only for sectors depending more heavily on banking finance as opposed to inter-firm finance. Furthermore, sectors characterized by higher degree of assets tangibility appear to be more resilient in the face of a banking crisis. The effect of the banking crises on exports is robust and additional to external demand shocks. The effect of the latter is independent and additional to that of a banking shock, and is particularly significant for sectors producing durable goods.
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