Do stock markets act as a spare tire during banking crises, providing an alternative corporate financing channel and mitigating the economic severity of these crises? Using firm-level data in 36 countries from 1990 through 2011, we find that the adverse consequences of banking crises on equity...

This paper highlights problems with existing narrative chronologies of banking crises and showcases new quantitative approaches for reconstructing and analyzing the global history of banking crises. Using a historical panel of bank equity returns across 46 countries, this paper puts forward two...

We examine historical banking crises through the lens of bank equity declines, which cover a broad sample of episodes of banking distress both with and without banking panics. To do this, we construct a new dataset on bank equity returns and narrative information on banking panics for 46...