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Replication data for: From Financial Crash to Debt Crisis

Resource Type
  • Reinhart, Carmen M.
  • Rogoff, Kenneth S.
Publication Date
  • Abstract

    Newly developed historical time series on public debt, along with data on external debts, allow a deeper analysis of the debt cycles underlying serial debt and banking crises. We test three related hypotheses at both "world" aggregate levels and on an individual country basis. First, external debt surges are an antecedent to banking crises. Second, banking crises (domestic and those in financial centers) often precede or accompany sovereign debt crises; we find they help predict them. Third, public borrowing surges ahead of external sovereign default, as governments have "hidden domestic debts" that exceed the better documented levels of external debt. (JEL E44, F34, F44, G01, H63, N20)
  • Is supplement to
    DOI: 10.1257/aer.101.5.1676 (Text)
  • Reinhart, Carmen M, and Kenneth S Rogoff. “From Financial Crash to Debt Crisis.” American Economic Review 101, no. 5 (August 2011): 1676–1706.
    • ID: 10.1257/aer.101.5.1676 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 3 | Registration Date: 2019-10-11

Reinhart, Carmen M.; Rogoff, Kenneth S. (2011): Replication data for: From Financial Crash to Debt Crisis. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset.