This paper reviews the literature on financial crises focusing on three specific aspects. First,
what are the main factors explaining financial crises? Since many theories on the sources of …

By analyzing 20 developed economies over 1920–2012, we find the following evidence of
overoptimism and neglect of crash risk by bank equity investors during credit expansions:(i) …

This paper updates and expands the database on systemic banking crises presented in
Laeven and Valencia (IMF Econ Rev 61 (2): 225–270, 2013a). The database draws on 151 …

This paper updates the database on systemic banking crises presented in Laeven and
Valencia (2008, 2013). Drawing on 151 systemic banking crises episodes around the globe …

This paper introduces a new database of financial crises, providing an important insight into
the causes, duration, and consequences of different types of financial crises. Besides …

A literature review showed that finance is a driver of sustainability. However, to achieve
sustainability through finance, it is necessary to rebuild and adapt the financial system to the …

This paper investigates exchange rate pass-through into consumer prices by considering
the nature of the shock triggering currency movements. By individually estimating structural …

This paper presents a comprehensive cross-country database of fiscal space, broadly
defined as the availability of budgetary resources for a government to service its financial …

Newly developed historical time series on public debt, along with data on external debts,
allow a deeper analysis of the debt cycles underlying serial debt and banking crises. We test …

A key precursor of twentieth-century financial crises in emerging and advanced economies
alike was the rapid buildup of leverage. Those emerging economies that avoided leverage …