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Title: Early Warning Systems for Banking Crises – Research Advances and Policy Utilisation
Authors: Davis, E
Karim, D
Keywords: Banking Crises;Early Warning Systems;Macroprudential Surveillance
Issue Date: Sep-2020
Publisher: Brunel University London
Citation: 2020
Series/Report no.: Economics and Finance Paper Working Series;Working Paper No. 2016
Abstract: As a result of the sub-prime crisis in 2007, usage of the terms Early Warnings Systems (EWS) and macroprudential surveillance have become inextricably linked in many discourses relating to systemic financial stability. However, macroprudential surveillance, as a policy term, existed decades before the last global financial crisis and EWS system design also evolved prior to this, mainly in the wake of the 1997 Asian crises. As policy makers and international financial institutions further developed their understanding of systemic risk with each successive crisis, their policy objectives changed, and so too has the design of EWS. In light of these developments, we present a survey of academic investigation of banking crises and their prediction, and use made of early warning systems in the process of surveillance underlying the use of macroprudential tools. We conclude with some brief suggestions on the way forward in this area.
Appears in Collections:Dept of Economics and Finance Research Papers

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