Banking Crises and Exports : Lessons from the Past
This paper analyzes the impact of banking crises on manufacturing exports exploiting the fact that sectors differ in their needs for external financing. Relying on data from 23 banking crises episodes involving both developed and developing countri...
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| Format: | Policy Research Working Paper |
| Language: | English |
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2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090818165636 http://hdl.handle.net/10986/4213 |
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okr-10986-4213 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCESS TO FINANCE ADVERSE DEMAND ADVERSE EFFECT ADVERSE IMPACT ADVERSE SELECTION ALLOCATION OF CAPITAL ALTERNATIVE SOURCES OF FINANCE BALANCE SHEET BALANCE SHEET EFFECTS BALANCE SHEETS BANK BRANCH BANKING CRISES BANKING CRISIS BANKING SECTOR BANKING SYSTEM BENCHMARK BIASES BOOK VALUE BOOK VALUES BUSINESS CYCLE CAPITAL EXPENDITURES CAPITAL INTENSITY CASH FLOW CENTRAL BANK CHECKS COLLATERAL COLLATERALS COMPARATIVE ADVANTAGE COMPETITIVENESS COST OF ENTRY CREDIT CONSTRAINTS CREDIT CRUNCH CREDIT MARKETS CREDIT PROVIDERS CREDIT PROVISION CRISIS COUNTRIES CURRENCY CURRENCY CRISES CURRENCY CRISIS DATA AVAILABILITY DEBT RELIEF DEPENDENCE ON TRADE CREDIT DEPOSITOR DEREGULATION DEVALUATION DEVALUATIONS DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT ECONOMICS DIVERSIFICATION DOMESTIC BANKING DUMMY VARIABLE DURABLE DURABLE GOODS DURABLES ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC DOWNTURNS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC RESEARCH EMERGING MARKETS ENDOWMENTS EQUIPMENT EQUITY MARKET EXCHANGE RATE EXCHANGE RATE INSTABILITY EXCLUSION EXCLUSIONS EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPORT PERFORMANCE EXPORTER EXPORTERS EXPORTS EXPOSURE EXTERNAL FINANCE EXTERNAL FINANCING EXTERNAL FUNDS FINANCIAL ASSETS FINANCIAL CONSTRAINTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL DISTRESS FINANCIAL FACTORS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL MEASURES FINANCIAL NEEDS FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCIAL SYSTEMS FIXED COST FIXED COSTS FOREIGN BANKS FOREIGN DEBT FOREIGN LOANS FOREIGN MARKET FOREIGN MARKETS FUTURE RESEARCH GDP GDP PER CAPITA GROWTH RATE GROWTH RATES GUARANTEE SCHEMES HUMAN CAPITAL INCOME INCOME LEVELS INTANGIBLE INTERNAL FUNDS INTERNATIONAL BANK INTERNATIONAL BANKS INTERNATIONAL ECONOMICS INTERNATIONAL TRADE INVENTORIES LEGAL ENVIRONMENT LENDERS LIBERALIZATIONS LIQUIDITY LIQUIDITY PROBLEMS LONG TERM FINANCING LONG-TERM INVESTMENTS MACROECONOMIC SHOCKS MARKET VALUE MONETARY FUND MORAL HAZARD NATIONAL BANK OF BELGIUM NATURAL RESOURCES NON-PERFORMING LOANS OUTPUT PER CAPITA INCOME PHYSICAL CAPITAL PORTFOLIOS PRIVATE BORROWERS PRIVATE CREDIT REAL GDP REAL INCOME RECESSION RECESSIONS SIDE EFFECTS SOLVENCY SOVEREIGN DEFAULTS SUNK COSTS SUPPLY OF FINANCING SUPPLY SHOCKS TANGIBLE ASSETS TRADE CREDIT TRADE FINANCE TRADE FLOWS TRADING USE OF COLLATERAL VOLATILITY WORKING CAPITAL WORLD ECONOMY Microdata Set |
| spellingShingle |
ACCESS TO FINANCE ADVERSE DEMAND ADVERSE EFFECT ADVERSE IMPACT ADVERSE SELECTION ALLOCATION OF CAPITAL ALTERNATIVE SOURCES OF FINANCE BALANCE SHEET BALANCE SHEET EFFECTS BALANCE SHEETS BANK BRANCH BANKING CRISES BANKING CRISIS BANKING SECTOR BANKING SYSTEM BENCHMARK BIASES BOOK VALUE BOOK VALUES BUSINESS CYCLE CAPITAL EXPENDITURES CAPITAL INTENSITY CASH FLOW CENTRAL BANK CHECKS COLLATERAL COLLATERALS COMPARATIVE ADVANTAGE COMPETITIVENESS COST OF ENTRY CREDIT CONSTRAINTS CREDIT CRUNCH CREDIT MARKETS CREDIT PROVIDERS CREDIT PROVISION CRISIS COUNTRIES CURRENCY CURRENCY CRISES CURRENCY CRISIS DATA AVAILABILITY DEBT RELIEF DEPENDENCE ON TRADE CREDIT DEPOSITOR DEREGULATION DEVALUATION DEVALUATIONS DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT ECONOMICS DIVERSIFICATION DOMESTIC BANKING DUMMY VARIABLE DURABLE DURABLE GOODS DURABLES ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC DOWNTURNS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC RESEARCH EMERGING MARKETS ENDOWMENTS EQUIPMENT EQUITY MARKET EXCHANGE RATE EXCHANGE RATE INSTABILITY EXCLUSION EXCLUSIONS EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPORT PERFORMANCE EXPORTER EXPORTERS EXPORTS EXPOSURE EXTERNAL FINANCE EXTERNAL FINANCING EXTERNAL FUNDS FINANCIAL ASSETS FINANCIAL CONSTRAINTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL DISTRESS FINANCIAL FACTORS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL MEASURES FINANCIAL NEEDS FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCIAL SYSTEMS FIXED COST FIXED COSTS FOREIGN BANKS FOREIGN DEBT FOREIGN LOANS FOREIGN MARKET FOREIGN MARKETS FUTURE RESEARCH GDP GDP PER CAPITA GROWTH RATE GROWTH RATES GUARANTEE SCHEMES HUMAN CAPITAL INCOME INCOME LEVELS INTANGIBLE INTERNAL FUNDS INTERNATIONAL BANK INTERNATIONAL BANKS INTERNATIONAL ECONOMICS INTERNATIONAL TRADE INVENTORIES LEGAL ENVIRONMENT LENDERS LIBERALIZATIONS LIQUIDITY LIQUIDITY PROBLEMS LONG TERM FINANCING LONG-TERM INVESTMENTS MACROECONOMIC SHOCKS MARKET VALUE MONETARY FUND MORAL HAZARD NATIONAL BANK OF BELGIUM NATURAL RESOURCES NON-PERFORMING LOANS OUTPUT PER CAPITA INCOME PHYSICAL CAPITAL PORTFOLIOS PRIVATE BORROWERS PRIVATE CREDIT REAL GDP REAL INCOME RECESSION RECESSIONS SIDE EFFECTS SOLVENCY SOVEREIGN DEFAULTS SUNK COSTS SUPPLY OF FINANCING SUPPLY SHOCKS TANGIBLE ASSETS TRADE CREDIT TRADE FINANCE TRADE FLOWS TRADING USE OF COLLATERAL VOLATILITY WORKING CAPITAL WORLD ECONOMY Microdata Set Iacovone, Leonardo Zavacka, Veronika Banking Crises and Exports : Lessons from the Past |
| geographic_facet |
The World Region The World Region |
| relation |
Policy Research working paper ; no. WPS 5016 |
| description |
This paper analyzes the impact of
banking crises on manufacturing exports exploiting the fact
that sectors differ in their needs for external financing.
Relying on data from 23 banking crises episodes involving
both developed and developing countries during the period
1980-2000 the authors separate the impact of banking crises
on export growth from that of other exogenous shocks (i.e.
demand shocks). Their findings show that during a crisis the
export of sectors more dependent on external finance grow
significantly less than other sectors. However, this result
holds only for sectors depending more heavily on banking
finance as opposed to inter-firm finance. Furthermore,
sectors characterized by higher degree of assets tangibility
appear to be more resilient in the face of a banking crisis.
The effect of the banking crises on exports is robust and
additional to external demand shocks. The effect of the
latter is independent and additional to that of a banking
shock, and is particularly significant for sectors producing
durable goods. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Iacovone, Leonardo Zavacka, Veronika |
| author_facet |
Iacovone, Leonardo Zavacka, Veronika |
| author_sort |
Iacovone, Leonardo |
| title |
Banking Crises and Exports : Lessons from the Past |
| title_short |
Banking Crises and Exports : Lessons from the Past |
| title_full |
Banking Crises and Exports : Lessons from the Past |
| title_fullStr |
Banking Crises and Exports : Lessons from the Past |
| title_full_unstemmed |
Banking Crises and Exports : Lessons from the Past |
| title_sort |
banking crises and exports : lessons from the past |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090818165636 http://hdl.handle.net/10986/4213 |
| _version_ |
1764390437176475648 |
| spelling |
okr-10986-42132021-04-23T14:02:16Z Banking Crises and Exports : Lessons from the Past Iacovone, Leonardo Zavacka, Veronika ACCESS TO FINANCE ADVERSE DEMAND ADVERSE EFFECT ADVERSE IMPACT ADVERSE SELECTION ALLOCATION OF CAPITAL ALTERNATIVE SOURCES OF FINANCE BALANCE SHEET BALANCE SHEET EFFECTS BALANCE SHEETS BANK BRANCH BANKING CRISES BANKING CRISIS BANKING SECTOR BANKING SYSTEM BENCHMARK BIASES BOOK VALUE BOOK VALUES BUSINESS CYCLE CAPITAL EXPENDITURES CAPITAL INTENSITY CASH FLOW CENTRAL BANK CHECKS COLLATERAL COLLATERALS COMPARATIVE ADVANTAGE COMPETITIVENESS COST OF ENTRY CREDIT CONSTRAINTS CREDIT CRUNCH CREDIT MARKETS CREDIT PROVIDERS CREDIT PROVISION CRISIS COUNTRIES CURRENCY CURRENCY CRISES CURRENCY CRISIS DATA AVAILABILITY DEBT RELIEF DEPENDENCE ON TRADE CREDIT DEPOSITOR DEREGULATION DEVALUATION DEVALUATIONS DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT ECONOMICS DIVERSIFICATION DOMESTIC BANKING DUMMY VARIABLE DURABLE DURABLE GOODS DURABLES ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC DOWNTURNS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC RESEARCH EMERGING MARKETS ENDOWMENTS EQUIPMENT EQUITY MARKET EXCHANGE RATE EXCHANGE RATE INSTABILITY EXCLUSION EXCLUSIONS EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPORT PERFORMANCE EXPORTER EXPORTERS EXPORTS EXPOSURE EXTERNAL FINANCE EXTERNAL FINANCING EXTERNAL FUNDS FINANCIAL ASSETS FINANCIAL CONSTRAINTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEVELOPMENT FINANCIAL DISTRESS FINANCIAL FACTORS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL MEASURES FINANCIAL NEEDS FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCIAL SYSTEMS FIXED COST FIXED COSTS FOREIGN BANKS FOREIGN DEBT FOREIGN LOANS FOREIGN MARKET FOREIGN MARKETS FUTURE RESEARCH GDP GDP PER CAPITA GROWTH RATE GROWTH RATES GUARANTEE SCHEMES HUMAN CAPITAL INCOME INCOME LEVELS INTANGIBLE INTERNAL FUNDS INTERNATIONAL BANK INTERNATIONAL BANKS INTERNATIONAL ECONOMICS INTERNATIONAL TRADE INVENTORIES LEGAL ENVIRONMENT LENDERS LIBERALIZATIONS LIQUIDITY LIQUIDITY PROBLEMS LONG TERM FINANCING LONG-TERM INVESTMENTS MACROECONOMIC SHOCKS MARKET VALUE MONETARY FUND MORAL HAZARD NATIONAL BANK OF BELGIUM NATURAL RESOURCES NON-PERFORMING LOANS OUTPUT PER CAPITA INCOME PHYSICAL CAPITAL PORTFOLIOS PRIVATE BORROWERS PRIVATE CREDIT REAL GDP REAL INCOME RECESSION RECESSIONS SIDE EFFECTS SOLVENCY SOVEREIGN DEFAULTS SUNK COSTS SUPPLY OF FINANCING SUPPLY SHOCKS TANGIBLE ASSETS TRADE CREDIT TRADE FINANCE TRADE FLOWS TRADING USE OF COLLATERAL VOLATILITY WORKING CAPITAL WORLD ECONOMY Microdata Set This paper analyzes the impact of banking crises on manufacturing exports exploiting the fact that sectors differ in their needs for external financing. Relying on data from 23 banking crises episodes involving both developed and developing countries during the period 1980-2000 the authors separate the impact of banking crises on export growth from that of other exogenous shocks (i.e. demand shocks). Their findings show that during a crisis the export of sectors more dependent on external finance grow significantly less than other sectors. However, this result holds only for sectors depending more heavily on banking finance as opposed to inter-firm finance. Furthermore, sectors characterized by higher degree of assets tangibility appear to be more resilient in the face of a banking crisis. The effect of the banking crises on exports is robust and additional to external demand shocks. The effect of the latter is independent and additional to that of a banking shock, and is particularly significant for sectors producing durable goods. 2012-03-19T19:11:56Z 2012-03-19T19:11:56Z 2009-08 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090818165636 http://hdl.handle.net/10986/4213 English Policy Research working paper ; no. WPS 5016 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Publications & Research :: Policy Research Working Paper The World Region The World Region |