Banking Crisis
Get the Banking Crisis dummy for a variety of countries over time from the Global Macro Database (GMDB). Unlike the other indicators in this module, this is a binary (0 = no crisis, 1 = crisis) Reinhart & Rogoff style crisis-dating series rather than a continuous economic series: a value of 1 marks a year in which a country was undergoing a systemic banking crisis (e.g. bank runs, large-scale bank failures or government intervention to prevent them), and 0 marks a year in which it was not.
The crisis dating stops well short of the present – the series currently ends in 2020 – so recent years are NaN rather than 0.
Data comes from the Global Macro Database (GMDB), further information about the variable can be found within https://www.globalmacrodata.com/documentation.html
Also known as: banking panic, financial crisis dummy, systemic banking crisis.
No programming experience? With the Finance Toolkit MCP server, AI assistants such as Claude and ChatGPT can calculate the Banking Crisis for you. Just ask in plain English.
Calculate the Banking Crisis in Python
The Banking Crisis is available in the Economics module of the open-source Finance Toolkit. Install it with:
pip install financetoolkit -U
Then call get_banking_crisis as shown below.
from financetoolkit import Economics
economics = Economics(start_date='2005-01-01')
economics.get_banking_crisis(countries=['United States', 'United Kingdom'])
Which returns:
| United Kingdom | United States | |
|---|---|---|
| 2016 | 0 | 0 |
| 2017 | 0 | 0 |
| 2018 | 0 | 0 |
| 2019 | 0 | 0 |
| 2020 | 0 | 0 |
Parameters
get_banking_crisis accepts the following parameters:
- countries (list[str] | str | None, optional): A list of countries or a single country to include in the results. Defaults to None.
- rolling (int, optional): The rolling window size to use for smoothing the data (simple moving average). Defaults to None.
- trailing (int, optional): The trailing window size to use for summing the data over trailing periods (e.g. a trailing-4-quarter sum). Defaults to None.
- rounding (int | None, optional): The number of decimals to round the results to. Defaults to None.
Related Crisis Indicators
The Economics module page introduces the module, and the sidebar lists all of its functions.