@article{01KCK91396W4XGVZ2XMACEK2N2,
  abstract     = {{This paper examines the dynamic impact of systemic banking crises on financial development. Causal effects are identified using a propensity-score-based method for time series and panel data. Specifically, to address the non-random nature of banking crisis onsets, we apply inverse propensity score weighting to create a quasi-random distribution of crisis and non-crisis episodes. The appropriate weights are derived from a banking crisis prediction model that accounts for financial development in the run-up to crises. Using data on banking crises and a comprehensive set of financial development indicators for 174 countries from 1980 to 2019, we present novel evidence demonstrating that banking crisis shocks have a persistent negative effect on financial development. This finding holds across multiple dimensions of financial development.}},
  articleno    = {{103395}},
  author       = {{Everaert, Gerdie and Pozzi, Lorenzo}},
  issn         = {{0261-5606}},
  journal      = {{JOURNAL OF INTERNATIONAL MONEY AND FINANCE}},
  keywords     = {{Banking crises,Financial development,Panel data,Local projections,Inverse probability weighting,LIQUIDITY,BOOMS,RUNS,MYTH}},
  language     = {{eng}},
  pages        = {{24}},
  title        = {{Financial development in the aftermath of banking crises}},
  url          = {{http://doi.org/10.1016/j.jimonfin.2025.103395}},
  volume       = {{157}},
  year         = {{2025}},
}

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