
Contents
-
-
-
-
-
-
-
-
-
-
-
-
-
28.1 Introduction 28.1 Introduction
-
28.2 Early History 28.2 Early History
-
28.3 Diverse Origins: Management, Government, and Macroeconomics in Recent Crises 28.3 Diverse Origins: Management, Government, and Macroeconomics in Recent Crises
-
28.3.1 Management and Fraud 28.3.1 Management and Fraud
-
28.3.2 Government Policies 28.3.2 Government Policies
-
28.3.3 Macro Boom and Bust 28.3.3 Macro Boom and Bust
-
-
28.4 Panic and Contagion: Explaining Sudden and Fast-moving Banking Crises 28.4 Panic and Contagion: Explaining Sudden and Fast-moving Banking Crises
-
28.5 Costs of Crises 28.5 Costs of Crises
-
28.6 Crisis Response and Prevention 28.6 Crisis Response and Prevention
-
28.6.1 An Ounce of Prevention 28.6.1 An Ounce of Prevention
-
28.6.2 A Pound of Cure 28.6.2 A Pound of Cure
-
-
28.7 The Crisis of 2007 and the Euro Crisis: Some Things Old and New 28.7 The Crisis of 2007 and the Euro Crisis: Some Things Old and New
-
28.8 Toward Dynamic Regulation 28.8 Toward Dynamic Regulation
-
References References
-
-
-
-
-
-
-
-
-
-
-
28 Banking Crises: Those Hardy Perennials
Get accessGerard Caprio, Jr. is William Brough Professor of Economics at Williams College and Chair of the Center for Development Economics. Previously he was the Director for Policy in the World Bank’s Financial Sector Vice Presidency and head of the financial sector research group. His research included establishing the first databases on banking crises around the world and on bank regulation and supervision, and he worked on financial system reform and development issues around the world. He has consulted for the IMF, the World Bank, and various governments. He has authored numerous articles, and co-authored The Guardians of Finance: Making Regulators Work for Us, with Jim Barth and Ross Levine (MIT Press, 2012), with whom he also wrote Rethinking Bank Regulation: Till Angels Govern (Cambridge University Press, 2006). Earlier positions include: Vice President and Head of Global Economics at JPMorgan, and economist positions at the Federal Reserve Board and the IMF. He has taught at Trinity College Dublin, where he was a Fulbright Scholar, and at George Washington University.
Patrick Honohan is Honorary Professor of Economics at Trinity College Dublin, a Non-resident Senior Fellow at the Peterson Institute for International Economics and a Research Fellow of CEPR. From 2009–15 he was Governor of the Central Bank of Ireland. Previously, he was a Senior Advisor at the World Bank and his career has also included periods on the staffs of the IMF, the Economic and Social Research Institute, Dublin, and as Economic Advisor to the Taoiseach.
-
Published:07 April 2015
Cite
Abstract
The history of banking around the world has been punctuated by frequent systemic crises. As with Tolstoy’s “unhappy families,” not all crises are the same; distinct roles have been played at different times by mismanagement, government interference, and macroeconomic shocks. This review identifies common features of crises in recent decades and describes how costly they have been in terms of their fiscal burden and the impact on macroeconomic growth. It proceeds to outline the conceptual issues identified by theoreticians and considers appropriate policy responses. Although the crisis that began in 2007 and the euro sovereign debt crisis are claimed to be mostly new, we find key elements that are painfully familiar in each. Brief lessons for regulation are provided.
Sign in
Personal account
- Sign in with email/username & password
- Get email alerts
- Save searches
- Purchase content
- Activate your purchase/trial code
- Add your ORCID iD
Purchase
Our books are available by subscription or purchase to libraries and institutions.
Purchasing informationMonth: | Total Views: |
---|---|
October 2022 | 3 |
December 2022 | 3 |
January 2023 | 2 |
February 2023 | 5 |
March 2023 | 4 |
April 2023 | 3 |
May 2023 | 4 |
June 2023 | 2 |
July 2023 | 2 |
August 2023 | 1 |
September 2023 | 5 |
October 2023 | 2 |
November 2023 | 2 |
December 2023 | 2 |
January 2024 | 2 |
February 2024 | 1 |
March 2024 | 1 |
April 2024 | 2 |
May 2024 | 4 |
June 2024 | 2 |
July 2024 | 1 |
Get help with access
Institutional access
Access to content on Oxford Academic is often provided through institutional subscriptions and purchases. If you are a member of an institution with an active account, you may be able to access content in one of the following ways:
IP based access
Typically, access is provided across an institutional network to a range of IP addresses. This authentication occurs automatically, and it is not possible to sign out of an IP authenticated account.
Sign in through your institution
Choose this option to get remote access when outside your institution. Shibboleth/Open Athens technology is used to provide single sign-on between your institution’s website and Oxford Academic.
If your institution is not listed or you cannot sign in to your institution’s website, please contact your librarian or administrator.
Sign in with a library card
Enter your library card number to sign in. If you cannot sign in, please contact your librarian.
Society Members
Society member access to a journal is achieved in one of the following ways:
Sign in through society site
Many societies offer single sign-on between the society website and Oxford Academic. If you see ‘Sign in through society site’ in the sign in pane within a journal:
If you do not have a society account or have forgotten your username or password, please contact your society.
Sign in using a personal account
Some societies use Oxford Academic personal accounts to provide access to their members. See below.
Personal account
A personal account can be used to get email alerts, save searches, purchase content, and activate subscriptions.
Some societies use Oxford Academic personal accounts to provide access to their members.
Viewing your signed in accounts
Click the account icon in the top right to:
Signed in but can't access content
Oxford Academic is home to a wide variety of products. The institutional subscription may not cover the content that you are trying to access. If you believe you should have access to that content, please contact your librarian.
Institutional account management
For librarians and administrators, your personal account also provides access to institutional account management. Here you will find options to view and activate subscriptions, manage institutional settings and access options, access usage statistics, and more.