We investigate the effects of economic crises on the subsequent economic performance, economic reform, democratization … economic crises during the 1990s. We find that the severity of crisis has had a positive impact on the subsequent pace of … economic reform, economic growth and, with a delay, on investment and institutional change. Episode of high inflation, moreover …

booms, asset price bubbles increase financial crisis risks; upon collapse they tend to be followed by deeper recessions and …

Two separate narratives have emerged in the wake of the Global Financial Crisis. One speaks of private financial excess … appears to be a constraint in the aftermath of a crisis, then and now. …

U.S. banking crisis of the 20th century. Our systemic risk measure captures both the credit risk of an individual bank … banking crisis that occurred between 1930{33 raised systemic risk per bank by 33% and increased the riskiness of the very …