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Are Banking Crises Really an Equal Opportunity Menace?

Author

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  • Bouvatier, Vincent

    (Université Paris Est Créteil, France / CEPII, France)

  • Tadjeddine, Yamina

    (Université de Lorraine, France)

Abstract

This paper investigates exposure to banking crises. Based on a long-term perspective and descriptive statistics, Reinhart and Rogoff (2008, 2009) and Qian et al. (2011) concluded that banking crises are equal opportunity menaces in the sense that both advanced and developing economies face the same exposure. This paper confirms this result, relying on the hazard function of a duration model. Moreover, we extend the concept that banking crises are an equal opportunity menace in two directions. First, we show that graduation from inflation, currency, or debt crises does not reduce the exposure to banking crises. Second, we indicate that top banking centers do not have a higher exposure to banking crises.

Suggested Citation

  • Bouvatier, Vincent & Tadjeddine, Yamina, 2019. "Are Banking Crises Really an Equal Opportunity Menace?," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 34(4), pages 619-666.
    • Handle: RePEc:ris:integr:0783
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    Keywords

    Banking crisis; Discrete-time duration model;

    JEL classification:

    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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