The starting point for the research has been the list of 147 banking crises within the period 1976–2011 prepared by the International Monetary Fund. The countries with crises have been analysed with respect to publicly available World Bank indicators in the periods of three years before the...

The purpose of this research is to provide empirical evidence about what institutions are most likely to favor development in its different stages. Firstly, we identify the three development stages that prevailed in the world between 1996 and 2011 according to the income classification of the...