Individual Bank Runs and Systemic Risk
This chapter looks at individual bank runs and systemic risk featuring the evidence on the determinants of banking crises: market and economic conditions, implications of banking crises and their results, regulation and banking crises, and interbank market exposure and contagion. Preventing banking crises has thus far been a frustrating exercise, as the frequency and number of crises seem to have been increasing. Thus, understanding of the reasons behind and the consequences of bank runs and panics is of utmost importance. This chapter attempts to explain the probable reasons for individual bank runs and the association and perhaps causation between market structure and contagion. It also tries to evaluate the effects of banking crises on the economy as a whole and assess their effects on the propagation and prolongation of recessions.
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