Using a new country-level panel database, we explore effect of capital inflow surges, credit booms and financial fragility on the probability of banking crises. We find that booms increase the probability of a crisis only in relatively fragile financial systems.
|Publication status||Published - Nov 2015|
Bibliographical note© 2015 The Authors. Published by Elsevier B.V.
This is an open access article under the CC BY license