| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11651 |
| DP11651 International Banking and Transmission of the 1931 Financial Crisis | |
| Olivier Accominotti | |
| 发表日期 | 2016-11-21 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | In May-July 1931, a series of financial panics shook Central Europe before spreading to the rest of the world. This paper explores how the 1931 Central European crisis propagated to the London and New York financial centers; it also examines the role of cross-border banking linkages in international crisis transmission. Using archival bank-level data, I document US and British banks’ asset-side exposure to the crisis region. The Continental crisis disturbed few US banks but endangered several British financial institutions and triggered severe stress in the London money market. Central European credits were mostly held by large and diversified commercial banks in the United States and by small and geographically specialized financial institutions in Britain. Differences in the market structure of the trade finance industry explain why the 1931 Central European crisis infected London banks but not New York banks. |
| 主题 | Economic History ; International Macroeconomics and Finance |
| 关键词 | International contagion Trade finance 1931 crisis Cross-border banking |
| URL | https://cepr.org/publications/dp11651 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540465 |
| 推荐引用方式 GB/T 7714 | Olivier Accominotti. DP11651 International Banking and Transmission of the 1931 Financial Crisis. 2016. |
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