The Economic and Fiscal Consequences of Financial Crises

The Economic and Fiscal Consequences of Financial Crises

The Ds: Sharp economic downturns follow banking crises; with government revenues falling, fiscal deficits worsen; deficits lead to debt; as debts pile up rating downgrades follow. For the most fortunate countries it does not end in default.

Bibliographic Details
Main Author: Reinhart, Carmen M.
Format: Journal Article
Published: World Bank 2012
Subjects:
banking crises
banking crisis
debt
debts
emerging market
emerging markets
financial crises
financial crisis
financial markets
fiscal deficit
fiscal deficits
foreign capital
government debt
government finances
government revenues
market economies
post-crisis period
public debt
sovereign risk
tax
Online Access:http://hdl.handle.net/10986/4596
Description
Summary:The Ds: Sharp economic downturns follow banking crises; with government revenues falling, fiscal deficits worsen; deficits lead to debt; as debts pile up rating downgrades follow. For the most fortunate countries it does not end in default.

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