The Consequences of Banking Crises for Public Debt:
The aim of this paper is to assess the consequences of banking crises for public debt. Using an unbalanced panel of 154 countries from 1980 to 2006, the paper shows that banking crises are associated with a significant and long-lasting increase in government debt. The effect is a function of the sev...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2010
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| Schriftenreihe: | OECD Economics Department Working Papers
no.801 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The aim of this paper is to assess the consequences of banking crises for public debt. Using an unbalanced panel of 154 countries from 1980 to 2006, the paper shows that banking crises are associated with a significant and long-lasting increase in government debt. The effect is a function of the severity of the crisis. In particular, for severe crises, comparable to the most recent one in terms of output losses, banking crises are followed by a medium-term increase of about 37 percentage points in the government gross debt-to-GDP ratio. Measuring the increase in debt in this manner seems more appropriate than some of the measures used in the literature that have provided off-quoted and very large numbers for the run-up in debt. In addition, the debt ratio increased more in countries with a higher initial gross debt-to-GDP ratio and with a higher initial foreign debt-to-GDP ratio. |
| Beschreibung: | 1 Online-Ressource (28 p.) 21 x 29.7cm. |
| DOI: | 10.1787/5km7v02j85zp-en |
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| spelling | Furceri, Davide VerfasserIn aut The Consequences of Banking Crises for Public Debt Davide, Furceri and Aleksandra, Zdzienicka = Les conséquences des crises bancaires pour la dette publique / Davide, Furceri et Aleksandra, Zdzienicka Les conséquences des crises bancaires pour la dette publique Paris OECD Publishing 2010 1 Online-Ressource (28 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.801 The aim of this paper is to assess the consequences of banking crises for public debt. Using an unbalanced panel of 154 countries from 1980 to 2006, the paper shows that banking crises are associated with a significant and long-lasting increase in government debt. The effect is a function of the severity of the crisis. In particular, for severe crises, comparable to the most recent one in terms of output losses, banking crises are followed by a medium-term increase of about 37 percentage points in the government gross debt-to-GDP ratio. Measuring the increase in debt in this manner seems more appropriate than some of the measures used in the literature that have provided off-quoted and very large numbers for the run-up in debt. In addition, the debt ratio increased more in countries with a higher initial gross debt-to-GDP ratio and with a higher initial foreign debt-to-GDP ratio. Economics Zdzienicka, Aleksandra MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/5km7v02j85zp-en Volltext |
| spellingShingle | Furceri, Davide The Consequences of Banking Crises for Public Debt Economics |
| title | The Consequences of Banking Crises for Public Debt |
| title_alt | Les conséquences des crises bancaires pour la dette publique |
| title_auth | The Consequences of Banking Crises for Public Debt |
| title_exact_search | The Consequences of Banking Crises for Public Debt |
| title_full | The Consequences of Banking Crises for Public Debt Davide, Furceri and Aleksandra, Zdzienicka = Les conséquences des crises bancaires pour la dette publique / Davide, Furceri et Aleksandra, Zdzienicka |
| title_fullStr | The Consequences of Banking Crises for Public Debt Davide, Furceri and Aleksandra, Zdzienicka = Les conséquences des crises bancaires pour la dette publique / Davide, Furceri et Aleksandra, Zdzienicka |
| title_full_unstemmed | The Consequences of Banking Crises for Public Debt Davide, Furceri and Aleksandra, Zdzienicka = Les conséquences des crises bancaires pour la dette publique / Davide, Furceri et Aleksandra, Zdzienicka |
| title_short | The Consequences of Banking Crises for Public Debt |
| title_sort | consequences of banking crises for public debt |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5km7v02j85zp-en |
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