Front Matter Page
Fiscal Affairs Department
Contents
I. Introduction
II. Literature Review
III. Fiscal Policy During Banking Crises
IV. The Effectiveness of Fiscal Response
V. Robustness Analysis
VI. Conclusion
Tables
1. Fiscal Aggregates
2. Budget Composition: Revenues
3. Budget Composition Expenditures
4. Fiscal Expansion Composition and Post-Crisis Growth
5. Fiscal Policy, Resolution Policies, and Crisis Length
6. Fiscal Policy Composition, Resolution Policies, and Crisis Length
7. Fiscal Policy Composition, Resolution Policies, and Post-Crisis Growth
8. Explaining Crisis Length Controlling for Initial Fiscal Conditions
9. Explaining Crisis Length Controlling for Initial Economic Conditions
10. Explaining Post-Crisis Growth Controlling for Initial Fiscal Conditions
11. Explaining Post-Crisis Growth Controlling for Initial Economic Conditions
Figures
1. Frequency and Duration of Banking Crises
2. Economic Consequences of Banking Crises
3. Fiscal Policy and Crisis Length
Appendixes
Appendix Tables
A1. Episodes of Banking Crisis in the World, 1980–2008
A2. Budget Composition: Revenues
A3. Budget Composition: Expenditures
A4. The Relationship Between Containment and Resolution Policies and Crisis Length
A5. Robustness Estimations: Different Definition of Crisis Duration Based on Stock Market Recovery
A6. Robustness Estimations: Focusing on Discretionary Expansionary Fiscal Policy
A7. Robustness Estimations: Controlling for Endogeneity
References