Financial Crises Book

[alexpasch]

Interestingly the most benign period was the Gold Standard Era from 1880-1913. Here banking crises did occur but were fairly limited, and currency and twin crises were limited compared to subsequent periods. Since the global financial system was fairly open at this time, the implication is that globalization does not inevitably lead to crises.

http://knowledge.wharton.upenn.edu/article.cfm?articleid=1856

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