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The Macroeconomic Effects of Banking Crises: Evidence from the United Kingdom, 1750-1938

Version
1
Resource Type
Dataset
Creator
  • Kenny, Seán
  • Lennard, Jason
  • Turner, John
Publication Date
2020-08-20
Description
  • Abstract

    This paper analyzes the macroeconomic effects of banking crises in the United Kingdom between 1750 and 1938. We construct a new annual chronology of banking crises, which we define as episodes of runs and panics combined with significant, geographically-dispersed failures and suspensions. Using a vector autoregression, we find that banking crises are associated with short, sharp and significant drops in economic growth. Using the narrative record to identify plausibly exogenous variation, we show that this finding is robust to potential endogeneity.
Availability
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Relations
  • Is version of
    DOI: 10.3886/E120687

Update Metadata: 2020-08-20 | Issue Number: 1 | Registration Date: 2020-08-20

Kenny, Seán; Lennard, Jason; Turner, John (2020): The Macroeconomic Effects of Banking Crises: Evidence from the United Kingdom, 1750-1938. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E120687V1