The Effect of Financial Structure on Crises: Universal Banking in Interwar Europe
AbstractThis paper examines the link between banking structure and financial fragility across Europe during the 1920s and 1930s using a new database. Monthly and annual data are analyzed to show that countries with universal banking were more likely to experience crises. Furthermore, those countries with universal banking, which have a crisis, are shown to experience a slowdown in their economic growth.
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Bibliographic InfoPaper provided by Koc University-TUSIAD Economic Research Forum in its series Koç University-TUSIAD Economic Research Forum Working Papers with number 0910.
Length: 28 pages
Date of creation: Oct 2009
Date of revision:
Great Depression; Banking Crisis; Real Effects of Crises; Universal Banking;
Find related papers by JEL classification:
- N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
- G01 - Financial Economics - - General - - - Financial Crises
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-11-27 (All new papers)
- NEP-BAN-2009-11-27 (Banking)
- NEP-CFN-2009-11-27 (Corporate Finance)
- NEP-HIS-2009-11-27 (Business, Economic & Financial History)
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