To complement the early warning signals literature, we study the determinants of banking and currency crises for small states and currency boards. Building on the crisis dataset by Laeven and Valencia (2020), we estimate a binominal logit model to identify the determinants of crises, and as a...

This study examines the behavior of financial contagion within the New Zealand stock market. The degree of financial contagion is measured by the coincidence of extreme stock returns. The extent of the effect and its economic significance are examined using the multinomial regression. The...

When small countries crash -- Sinking Scotland -- Caribbean follies -- Austria, credit-anstalt and the Great Depression -- When Finland almost failed -- Albanian pyramid schemes -- Volcanoes, Icelandic banks, and McDonald's -- Ireland's time of troubles -- Acropolis now -- Conclusion.