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International experiences of banking crises: management tools and macroeconomic consequences

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  • Dániel Felcser

    ()
    (Magyar Nemzeti Bank (central bank of Hungary))

  • Gyöngyi Körmendi

    ()
    (Magyar Nemzeti Bank (central bank of Hungary))

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    Abstract

    Our study summarises the experiences of earlier banking crises on the basis of international data. Following a review of the tools which can be used in the initial, acute phase of banking crises and a description of the lessons drawn from their application to date, we examine the macroeconomic consequences of banking crises. Based on international experiences, although the growth rate of the economy may turn positive relatively quickly after a banking crisis, output losses are high, unemployment remains a problem for a longer time, and protracted adjustment processes start in the banking sector.

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    File URL: http://english.mnb.hu/Root/Dokumentumtar/ENMNB/Kiadvanyok/mnben_mnbszemle/mnben_mnb_bulletin_june_2010/felcser-kormendi_EN.pdf
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    Bibliographic Info

    Article provided by Magyar Nemzeti Bank (the central bank of Hungary) in its journal MNB Bulletin.

    Volume (Year): 5 (2010)
    Issue (Month): 2 (June)
    Pages: 13-21

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    Handle: RePEc:mnb:bullet:v:5:y:2010:i:2:p:13-21

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    Related research

    Keywords: banking crisis; containment policies; monetary policy; macroeconomic effects;

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    1. István Mák & Judit Páles, 2009. "The role of the FX swap market in the Hungarian financial system," MNB Bulletin, Magyar Nemzeti Bank (the central bank of Hungary), vol. 4(1), pages 24-34, May.
    2. Reinhart, Carmen M. & Rogoff, Kenneth S., 2013. "Banking crises: An equal opportunity menace," Journal of Banking & Finance, Elsevier, vol. 37(11), pages 4557-4573.
    3. Fabian Valencia & Luc Laeven, 2008. "Systemic Banking Crises," IMF Working Papers 08/224, International Monetary Fund.
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