Empirical Literature on Financial Crises : Fundamentals vs . Panic

  title={Empirical Literature on Financial Crises : Fundamentals vs . Panic},
  author={Itay Goldstein},
The process of financial globalization has given rise to an increase in the frequency of financial crises. With it, there has also been a surge in research about financial crises. One of the key questions in this area is whether crises are triggered by fundamentals or come as a result of panic. Observing real-world events, many prominent researchers, including Friedman and Schwartz (1963) and Kindleberger (1978), concluded that financial crises are so strong and sudden that there must be an… CONTINUE READING


Publications referenced by this paper.

Twin crisis A combination of a banking crisis and a currency crisis

  • F. Allen, D. Gale
  • Journal of Finance
  • 1998
Highly Influential
10 Excerpts

Contagious speculative attacks: first tests

  • B. Eichengreen, A. Rose, C. Wyplosz
  • The Scandinavian Journal of Economics
  • 1996
Highly Influential
5 Excerpts

Banking panics and business cycles

  • G. Gorton
  • Oxford Economic Papers
  • 1988
Highly Influential
3 Excerpts

Similar Papers

Loading similar papers…