Two depressions, one banking collapse: Lessons from Australia
AbstractIn Australia, the 1890s depression was associated with a banking system collapse, whereas financial problems during the 1930s depression were far less severe. While the behaviour of the financial sector was obviously pro-cyclical during the 1890s episode, there were signs of more prudent behaviour and stronger financial institutions leading up to the 1930s depression. This change was aided by a change in the competitive environment and by the experience of the preceding financial crisis. The lessons from Australia's depression experiences are of relevance to debates about the causes of the current global financial crisis and required regulatory reforms.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Journal of Financial Stability.
Volume (Year): 7 (2011)
Issue (Month): 3 (August)
Contact details of provider:
Web page: http://www.elsevier.com/locate/jfstabil
Financial crises Prudential behaviour Competition;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Chen, Xiaofen, 2007. "Banking deregulation and credit risk: Evidence from the EU," Journal of Financial Stability, Elsevier, vol. 2(4), pages 356-390, March.
- Kristopher S. Gerardi & Andreas Lehnert & Shane M. Sherlund & Paul S. Willen, 2009.
"Making sense of the subprime crisis,"
2009-02, Federal Reserve Bank of Atlanta.
- Crosby, M., 1995. "Monetary Factors in the Great Depression in Australia," Papers 95-8, New South Wales - School of Economics.
- Gabriel Jiménez & Jose A. Lopez & Jesús Saurina, 2007.
"How does competition impact bank risk-taking?,"
Working Paper Series
2007-23, Federal Reserve Bank of San Francisco.
- Davis, E. Philip & Karim, Dilruba, 2008. "Comparing early warning systems for banking crises," Journal of Financial Stability, Elsevier, vol. 4(2), pages 89-120, June.
- Schedvin, C B, 1973. "A Century of Money in Australia," The Economic Record, The Economic Society of Australia, vol. 49(128), pages 588-605, December.
- Claudio E. V. Borio & Philip Lowe, 2004. "Securing sustainable price stability: should credit come back from the wilderness?," BIS Working Papers 157, Bank for International Settlements.
- D.T. Merrett, 1991. "FINANCIAL INSTITUTIONS UNDER PRESSURE: ARE THE RIGHT LESSONS BEING LEARNT FROM THE 1890s?," Economic Papers, The Economic Society of Australia, vol. 10(1), pages 1-10, 03.
- Boehm, E A, 1973. "Australia's Economic Depression of the 1930s," The Economic Record, The Economic Society of Australia, vol. 49(128), pages 606-23, December.
- White, William R., 2008. "Past financial crises, the current financial turmoil, and the need for a new macrofinancial stability framework," Journal of Financial Stability, Elsevier, vol. 4(4), pages 307-312, December.
- Itzhak Gilboa & David Schmeidler, 1994.
"Act-Similarity in Case-Based Decision Theory,"
1081, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Silberberg, R, 1975. "Rates of Return on Melbourne Land Investment, 1880-92," The Economic Record, The Economic Society of Australia, vol. 51(134), pages 203-17, June.
- Tim Atkin & Mark Caputo & Tim Robinson & Hao Wang, 2014.
"Macroeconomic Consequences of Terms of Trade Episodes, Past and Present,"
RBA Research Discussion Papers
rdp2014-01, Reserve Bank of Australia.
- Tim Atkin & Mark Caputo & Tim Robinson & Hao Wang, 2014. "Macroeconomic Consequences of Terms of Trade Episodes, Past and Present," CAMA Working Papers 2014-11, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Tim Atkin & Mark Caputo & Tim Robinson & Hao Wang, 2014. "Macroeconomic Consequences of Terms of Trade Episodes, Past and Present," CEH Discussion Papers 22, Centre for Economic History, Research School of Economics, Australian National University.
- Tom Cusbert & Thomas Rohling, 2013. "Currency Demand during the Global Financial Crisis: Evidence from Australia," RBA Research Discussion Papers rdp2013-01, Reserve Bank of Australia.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.