In the financial crisis literature, it is usually argued that, contrary to the case of currency crises, building a time series index to identify banking crisis episodes is highly difficult, particularly because of the lack of reliable data on banking sector variables (non-performing loans,...

Purpose – Economic structural complementarity between country A and country B, or the way the two countries specialize in different industries is a useful tool for the analysis of the likely impact of trade liberalization. Although implicit in earlier work on economic integration, this concept...