Real effects of banking crises: a literature review
Research is unequivocal in highlighting that banking crises have a negative impact on GDP, usually more pronounced in developing economies, research published by the Bank of Italy finds.
The magnitude of the losses, however, is more controversial: the quantitative results of studies on the repercussions of banking crises on economic activity are quite uneven.
Estimates on the correlation between financial variables and GDP indicate output losses generally greater than ten percentage points of
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