Gande, Amar; John, Kose; Senbet, Lemma W. - In: Journal of International Money and Finance 27 (2008) 5, pp. 707-732
We model the vulnerability of an economy to a financial crisis as arising from the interaction of the degree of economic specialization and bank debt financing. The probability of a financial crisis is shown to increase in the degree of economic specialization. Bank debt financing has the...
