Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/81579 
Year of Publication: 
2012
Series/Report no.: 
Discussion Paper No. 2012/66
Publisher: 
Turkish Economic Association, Ankara
Abstract (Translated): 
In this study, the main purpose is to analyze the factors that stimulate the probability of financial crises. The period of analysis covers the years of 1970-2008, thereby including the impact of recent global financial crisis. The analysis aims to make a comparison for the developed and developing country financial crises separately. Panel logit estimation technique is used for the analysis which includes 24 developed and 26 developing countries, amounting to 50 countries as total. According to estimation results, current account deficit carries the risk of raising the probability of financial crises significantly both in advanced countries and developing countries. Furthermore, credit booms during the last five-year period, as well as monetary expansion, contributed to the probability of financial crises especially in developed countries.
JEL: 
G01
C33
G18
G21
G28
Document Type: 
Working Paper

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