Summary of Banking Crises

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Banking Crises summary
Economic booms and busts have historically driven banking crises.


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Banking crises have always been a part of the economic scene. These crunches typically follow economic booms that go bust, much as the 2008 banking crisis succeeded the US housing market collapse. Professor Richard S. Grossman offers a succinct history of banking crises during the past 200 years, noting the conditions necessary for bank stability. getAbstract recommends his informative report to bankers, investors and economic history buffs.

In this summary, you will learn

  • What constitutes a banking crisis and
  • What pattern banking crises have shown consistently over the past two hundred years.


Numerous banking crises have occurred across the globe over a period spanning more than 200 years. Although each may have had a unique trigger, these crises represent a systemic failure stemming from the collapses of one or more major banks. These financial disasters can devastate economies, with all...
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About the Author

Richard S. Grossman is a professor of economics at Wesleyan University in Connecticut.

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