RBA Annual Conference – 1998 What Works Among Active Labour Market Policies: Evidence from OECD Countries' Experiences

Table 1: Chronology of Banking and Currency Crises 1880–1971: 21 Countries
Classical Gold Standard: 1880–1914
1. Emerging countries
Argentina Australia Brazil Canada Chile Denmark Greece Italy Japan Finland Norway Portugal Spain Sweden United States
Year B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C.
Notes:
B.C. defined as banking panics (*) and/or banking crisis (significant bank failures) (•).
C.C. defined as forced change in parity, abandonment of peg or successful rescue, chronology derived from historical narratives (•); defined based on an annual currency crisis indicator as developed in Eichengreen, Rose and Wyplosz (1995) with UK as base country 1880–1914 and the US thereafter (#).
Sources: Banking crises: Bernanke and James (1991), Bonnelli (1982), Bordo (1986), Bordo and Schwartz (1996a), Caprio and Klingbiel (1996), Dertilis and Costis (1995), DeLanghe (1999), Hansen (1999), Herrala (1998), Kindleberger (1989), Klovland (1999), Llona (1990), Macedo (1999), Martin-Acena (1995), Nordvik (1995), Reis (1995), Thorp (1926), Triner (1999). We were unable to find evidence on banking crises in Greece or Spain before 1914. Currency crises: Bordo and Eichengreen (1998), Bordo and Schwartz (1996b), International Financial Statistics (various years).
1883                                                         *  
1885   •                 •     •                                
1887                   •                                        
1889           •                                                
1890 • •     •                                                  
1891 *       •     #             *               • •           #
1892                                                         * #
1893     *         #             *                              
1894                               •#                           •
1897         *           •                               •      
1898           •     * • •                                      
1900         *                         # •                      
1901         •                       •                          
1904                                   #                        
1907                 •           *   *                   *   *  
1908   #           #               #   #                        
1914 * •     • •   • *   * •   • *         •   •           • •  
1915       •                                                    
1917                                 • •                        
Continued Table 1: Chronology of Banking and Currency Crises 1880–1971: 21 Countries, Classical Gold Standard: 1880–1914
2. Advanced countries
Belgium France Germany Netherlands Switzerland United Kingdom
Year B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C.
Notes:
B.C. defined as banking panics (*) and/or banking crisis (significant bank failures) (•).
C.C. defined as forced change in parity, abandonment of peg or successful rescue, chronology derived from historical narratives (•); defined based on an annual currency crisis indicator as developed in Eichengreen, Rose and Wyplosz (1995) with UK as base country 1880–1914 and the US thereafter (#).
Sources: Banking crises: Bernanke and James (1991), Bonnelli (1982), Bordo (1986), Bordo and Schwartz (1996a), Caprio and Klingbiel (1996), Dertilis and Costis (1995), DeLanghe (1999), Hansen (1999), Herrala (1998), Kindleberger (1989), Klovland (1999), Llona (1990), Macedo (1999), Martin-Acena (1995), Nordvik (1995), Reis (1995), Thorp (1926), Triner (1999). We were unable to find evidence on banking crises in Greece or Spain before 1914. Currency crises: Bordo and Eichengreen (1998), Bordo and Schwartz (1996b), International Financial Statistics (various years).
1882     *                  
1888       #                
1889     *                  
1890                     •  
1893           #            
1894                        
1897             •          
1901         *              
1907     •     #            
1914 * •   •   • * •   •   •
Continued Table 1: Chronology of Banking and Currency Crises 1880–1971: 21 Countries
Interwar 1919–1939
1. Emerging countries
Argentina Brazil Chile Greece Portugal Spain
Year B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C.
Notes:
B.C. defined as banking panics (*) and/or banking crisis (significant bank failures) (•).
C.C. defined as forced change in parity, abandonment of peg or successful rescue, chronology derived from historical narratives (•); defined based on an annual currency crisis indicator as developed in Eichengreen, Rose and Wyplosz (1995) with UK as base country 1880–1914 and the US thereafter (#).
Sources: Banking crises: Bernanke and James (1991), Bonnelli (1982), Bordo (1986), Bordo and Schwartz (1996a), Caprio and Klingbiel (1996), Dertilis and Costis (1995), DeLanghe (1999), Hansen (1999), Herrala (1998), Kindleberger (1989), Klovland (1999), Llona (1990), Macedo (1999), Martin-Acena (1995), Nordvik (1995), Reis (1995), Thorp (1926), Triner (1999). We were unable to find evidence on banking crises in Greece or Spain before 1914. Currency crises: Bordo and Eichengreen (1998), Bordo and Schwartz (1996b), International Financial Statistics (various years).
1920                 •   •  
1922                     •  
1923     •           •   •  
1925         •              
1929   •                    
1930   #   •#                
1931 • #   #   • • • • •   #
1932   #           • •      
1934 •     #                
1937       #                
Continued Table 1: Chronology of Banking and Currency Crises 1880–1971: 21 Countries, Interwar 1919–1939
2. Advanced countries
Australia Belgium Canada Denmark France Germany Italy Japan Finland Netherlands Norway Sweden Switzerland United Kingdom United States
Year B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C.
Notes:
B.C. defined as banking panics (*) and/or banking crisis (significant bank failures) (•).
C.C. defined as forced change in parity, abandonment of peg or successful rescue, chronology derived from historical narratives (•); defined based on an annual currency crisis indicator as developed in Eichengreen, Rose and Wyplosz (1995) with UK as base country 1880–1914 and the US thereafter (#).
Sources: Banking crises: Bernanke and James (1991), Bonnelli (1982), Bordo (1986), Bordo and Schwartz (1996a), Caprio and Klingbiel (1996), Dertilis and Costis (1995), DeLanghe (1999), Hansen (1999), Herrala (1998), Kindleberger (1989), Klovland (1999), Llona (1990), Macedo (1999), Martin-Acena (1995), Nordvik (1995), Reis (1995), Thorp (1926), Triner (1999). We were unable to find evidence on banking crises in Greece or Spain before 1914. Currency crises: Bordo and Eichengreen (1998), Bordo and Schwartz (1996b), International Financial Statistics (various years).
1921           # • #         *     # • • • # •                  
1922               #                         •                  
1923         •         •                   # •                  
1924       #                                                    
1925     •                                                      
1926     •             #                                        
1927                             *                              
1929           •                                                
1930                 *       •                               *  
1931     •     • • •# •   * •# •     •# • •     • • • •# •     •# *  
1932   #           # •             #             • #         *  
1933   #                                             •       * •
1934     •                 #                                    
1935       •                 • #           •#                    
1936                   •       •                       •        
1937                   #                                        
1938       #                                                    
1939     •                           *     #           #        
Continued Table 1: Chronology of Banking and Currency Crises 1880–1971: 21 Countries
Bretton Woods: 1945–1971
1. Emerging countries
Argentina Brazil Chile Greece Portugal Spain
Year B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C.
Notes:
B.C. defined as banking panics (*) and/or banking crisis (significant bank failures) (•).
C.C. defined as forced change in parity, abandonment of peg or successful rescue, chronology derived from historical narratives (•); defined based on an annual currency crisis indicator as developed in Eichengreen, Rose and Wyplosz (1995) with UK as base country 1880–1914 and the US thereafter (#).
Sources: Banking crises: Bernanke and James (1991), Bonnelli (1982), Bordo (1986), Bordo and Schwartz (1996a), Caprio and Klingbiel (1996), Dertilis and Costis (1995), DeLanghe (1999), Hansen (1999), Herrala (1998), Kindleberger (1989), Klovland (1999), Llona (1990), Macedo (1999), Martin-Acena (1995), Nordvik (1995), Reis (1995), Thorp (1926), Triner (1999). We were unable to find evidence on banking crises in Greece or Spain before 1914. Currency crises: Bordo and Eichengreen (1998), Bordo and Schwartz (1996b), International Financial Statistics (various years).
1950   •           #        
1953           •            
1956                        
1958                       #
1959   •   #                
1962   •   •#   •            
1963     • #                
1965       #                
1967   •                   •
1968           •            
1970   •                    
1971               •   •   •
Continued Table 1: Chronology of Banking and Currency Crises 1880–1971: 21 Countries, Bretton Woods: 1945–1971
2. Advanced countries
Australia Belgium Canada Denmark France Germany Italy Japan Finland Netherlands Norway Sweden Switzerland United Kingdom United States
Year B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C.
Notes:
B.C. defined as banking panics (*) and/or banking crisis (significant bank failures) (•).
C.C. defined as forced change in parity, abandonment of peg or successful rescue, chronology derived from historical narratives (•); defined based on an annual currency crisis indicator as developed in Eichengreen, Rose and Wyplosz (1995) with UK as base country 1880–1914 and the US thereafter (#).
Sources: Banking crises: Bernanke and James (1991), Bonnelli (1982), Bordo (1986), Bordo and Schwartz (1996a), Caprio and Klingbiel (1996), Dertilis and Costis (1995), DeLanghe (1999), Hansen (1999), Herrala (1998), Kindleberger (1989), Klovland (1999), Llona (1990), Macedo (1999), Martin-Acena (1995), Nordvik (1995), Reis (1995), Thorp (1926), Triner (1999). We were unable to find evidence on banking crises in Greece or Spain before 1914. Currency crises: Bordo and Eichengreen (1998), Bordo and Schwartz (1996b), International Financial Statistics (various years).
1947                                                       •    
1948                   •                                        
1949   •#   •               •           #   •#   •#   #       •#    
1950           •                                                
1957                   •#                                        
1960                                                           •
1961                                                       •    
1962           •                                                
1964                           •                           •    
1965                                                       •    
1966                                                       •    
1967                                                       •    
1968                   •                                        
1971   •   •       •                   •   •   •   •   •       •
Table 2: Chronology of Banking and Currency Crises: Emerging Countries: 1973–1998
Argentina Brazil Chile Korea Indonesia Malaysia Mexico Philippines Singapore Thailand
Year B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C. B.C. C.C B.C. C.C. B.C. C.C. B.C. C.C B.C. C.C. B.C. C.C
Sources: Banking crises: († and •), Caprio and Klingbiel (1996), Kaminsky (1998), Schwartz (1998). Currency crises: (*), Kaminsky (1998), Calvo and Vegh (1999).
Currency Crisis Index: († and •), International Financial Statistics (CD-ROM).
1976   † †                                  
1978                   •*                   •*
1979       †                             •  
1980 †     †       •                   •    
1981 † † *     †                   •         •*
1982   * † † † † *             • • •   •*   •  
1983   † *   † †         •*         • •*     •  
1984   *                           •*     • •*
1985   *   †             • •     •       •  
1986   † *   † *           •* •       • •*     •  
1987   *   †             •       •       •  
1988   *   †             •                  
1989 †     †           •                    
1990 †     †           •       •            
1991       †                                
1992       †         •       •              
1993                                        
1994                 •       • •            
1995 †                       •              
1997             • • • • • •     • •   • • •
1998             • • • • • •     •     • • •