Banking Crisis (Ahrend and Goujard)

Drivers of systemic banking crises – The role of bank-balance-sheet contagion and financial account structure by Rudiger Ahrend and Antoine  Goujard. “This paper examines whether the composition of a country´s external liabilities and assets has an incidence on its risk of suffering financial turmoil. Particular emphasis is put on the of international financial integration, using newly-constructed measures of contagion shocks.”