Fragile By Design: Understanding World Banking Markets

Columbia University

Overview

More than 100 major banking crises have happened over the previous 50 years, the average severity as determined by the amount money lost averaged 16% of GDP. In the Great Depression, banks only lost about 2.5% of GDP. Why is this? Is the modern banking system, with its crises, by design? And how can we avoid these disasters in the future?

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