Tesco
Banking Crises
Report

Banking Crises

Richard S. Grossman
CESifo Group Munich, 2016
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Editorial Rating

7

Qualities

  • Overview
  • Background

Recommendation

Banking crises have always been a part of the economic scene. These crunches typically follow economic booms that go bust, much as the 2008 banking crisis succeeded the US housing market collapse. Professor Richard S. Grossman offers a succinct history of banking crises during the past 200 years, noting the conditions necessary for bank stability. getAbstract recommends his informative report to bankers, investors and economic history buffs.

Take-Aways

  • Banking crises typically erupt when excessive lending in economic boom periods leads to marginal borrowers defaulting on loans during the inevitable busts.
  • In the period between the two world wars, banking crises were common and severe.
  • In the years following World War II, governments instituted stringent banking regulations, leading to almost three decades of financial stability.

About the Author

Richard S. Grossman is a professor of economics at Wesleyan University in Connecticut.

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