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The internationalisation of financial crises: banking and currency crises 1883–2008

Dungey, Mardi; Jacobs, Jan P. A. M.; Lestano


Financial crises are high cost events which can transmit across international borders. Using data from 1883 to 2008, this article develops a means of mapping changes in the degree of international synchronisation of banking and currency crises through a formal concordance index. This index specifically accounts for the typically low incidence and potential serial correlation of crisis data. The results show that banking crises were highly internationalised at the beginning of the 20th century,...[Show more]

CollectionsANU Research Publications
Date published: 2015-04
Type: Journal article
Source: The North American Journal of Economics and Finance
DOI: 10.1016/j.najef.2015.01.003
Access Rights: Open Access


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