The following datasets were constructed for the paper "Banking Crises Without Panics." We recommend you first read that paper and especially the data sections in the online appendix to better understand how these variables are constructed.
Full replication kit (with both annual and monthly datasets):
Banking crises and documentation (46 countries, 1870-2016)
Important: The following raw data are provided as is and purely for historical interest. It is only a small subset of our original sources, as many sources (e.g., Global Financial Data) could not be shared. Please read the following disclaimer before using.
Original historical sources for bank credit-to-GDP data
Bank credit from League of Nations' Memorandum on Commercial Bank (1920-1938)
Bank credit from the IMF's International Financial Statistics (1937-1987)
Some original historical sources for individual bank and nonfinancial stocks
For annual data: Canada, Denmark, France, Germany, Italy, Japan, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom
For monthly data: Denmark, France, Germany, Italy, Japan, Netherlands, Spain, Switzerland (warning: some >1 GB)
Baron, M., Verner, E., & Xiong, W. (2021). "Banking Crises Without Panics". Quarterly Journal of Economics, forthcoming.
Our paper "Intermediaries and Asset Prices: International Evidence since 1870" (RFS, 2021) has two new datasets built with historical data:
Aggregate balance sheets of banks and securities firms in the U.S., U.K., and Japan over 1870-2016
Individual Japanese stocks, 1955-2000: prices, dividends, ownership, and other financial data
Download the data and full replication kit here (and raw historical data and original scans here).
Baron, M., Muir, T. (2021). "Intermediaries and Asset Prices: International Evidence since 1870". Review of Financial Studies, forthcoming.
Daniel's working paper provides quartlery data on U.S. corporate securities gross issuance (debt and equity) as well as on total bank loans from 1900-2020. Download the data here. The paper can be found here.
Dieckelmann, D. (2021). Market sentiment, financial fragility, and economic activity: The role of corporate securities issuance. School of Business & Economics Discussion Paper, No. 2021/06. Freie Universität Berlin.
We plan to make other databases available soon:
Balance sheets of all banks in 17 countries, 1870-2016 (Matthew Baron, Moritz Schularick , and Kaspar Zimmermann)