Costs of banking system instability : some empirical evidence

  title={Costs of banking system instability : some empirical evidence},
  author={Glenn Hoggarth}
  • Glenn Hoggarth
OVER THE PAST QUARTER OF A CENTURY, unlike the preceding 25 years, there have been many banking crises around the world. Caprio and Klingebiel (1996, 1999), for example, document 69 crises in developed and emerging market countries since the late 1970s. In a recent historical study of 21 countries, Bordo, Eichengreen, Klingebiel and Martinez-Peria (2001) report only one banking crisis in the quarter of a century after 1945 but 19 since then. This article considers the ways in which banking… CONTINUE READING
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