Banking Crises in Perspective: Two Causes and One Cure
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Description
To paraphrase Tolstoy, every banking crisis is a crisis in a different way; every period of good fortune in banking is fortunate alike. So it might appear from reading the many well-informed and thoughtful accounts of banking disasters in widely different economic systems, some of them contained in this volume. Yet the apparent divergence of crises and convergence of periods of stability may be illusory. We are interested in the causes of crises because we want to avoid their recurrence, and we investigate in detail the particular features of individual episodes. We pay less attention to the distinguishing features of periods of banking stability.
Source Publication
Preventing Bank Crises: Lessons from Recent Global Bank Failures: Proceedings of a Conference Co-Sponsored by the Federal Reserve Bank of Chicago and the Economic Development Institute of the World Bank
Source Editors/Authors
Gerard Caprio, Jr, William C. Hunter, George G. Kaufman, Danny M. Leipziger
Publication Date
1998
Recommended Citation
Miller, Geoffrey P., "Banking Crises in Perspective: Two Causes and One Cure" (1998). Faculty Chapters. 2033.
https://gretchen.law.nyu.edu/fac-chapt/2033
