Please use this identifier to cite or link to this item: https://ktisis.cut.ac.cy/handle/10488/13462
Title: Real effects of banking crises: imports of capital goods by developing countries
Authors: Michail, Nektarios A. 
Savvides, Andreas 
Major Field of Science: Social Sciences
Field Category: Economics and Business
Keywords: Banking;Capital;Developing world;Financial crisis
Issue Date: Aug-2018
Source: Review of Development Economics, 2018, vol. 22, no. 3, pp. 1343-1359
Volume: 22
Issue: 3
Start page: 1343
End page: 1359
Journal: Review of Development Economics 
Abstract: We examine the hypothesis that banking crises have real effects on developing economies by reducing imports of capital goods. We test this hypothesis by estimating a model for the determinants of imports of capital goods by a panel of developing economies during 1961 to 2010. Our results suggest that not only do banking crises have statistically significant and economically important effects on imports of capital goods, but these effects increase the longer a banking crisis lasts. Imports of capital goods are a critical component of the capital stock and the production process in developing economies and, thus, our results highlight one important channel through which banking crises may hamper the growth prospects of these economies.
ISSN: 1363-6669
DOI: 10.1111/rode.12399
Rights: © John Wiley & Sons Ltd
Type: Article
Affiliation : Central Bank of Cyprus 
Cyprus University of Technology 
Appears in Collections:Άρθρα/Articles

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