Banking-Crisis Interventions, 1257-2019 / Andrew Metrick, Paul Schmelzing.

Format:

Book

Author/Creator:

Metrick, Andrew.

Contributor:

National Bureau of Economic Research.

Schmelzing, Paul.

Series:

Working Paper Series (National Bureau of Economic Research) no. w29281.

NBER working paper series no. w29281

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2021.

Summary:

We present a new database of banking-crisis interventions since the 13th century. The database includes 1886 interventions in 20 categories across 138 countries, covering interventions during all of the crises identified in the main banking-crisis chronologies, while also cataloguing a large number of interventions outside of those crises. The data show a gradual shift over the past centuries from the traditional interventions of a lender-of-last-resort, suspensions of convertibility, and bank holidays, towards a much more prominent role for capital injections and sweeping guarantees of bank liabilities. Furthermore, intervention frequencies and sizes suggest that the crisis problem in the financial sector has indeed reached an apex during the post-Bretton Woods era - but that such trends are part of a more deeply entrenched development that saw global intervention frequencies and sizes gradually rise since at least the late 17th century.

Notes:

Print version record

September 2021.