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 short of the present and ends in a different year per country, so the years after it 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.
Banking Crisis in Python or via the MCP
Install the Finance Toolkit with:
pip install financetoolkit -U
Then call get_banking_crisis as shown below.
from financetoolkit import Economics
economics = Economics(start_date='2005-01-01', end_date="2025-12-31")
economics.get_banking_crisis(countries=['United States', 'United Kingdom'])
Or, after setting up the Finance Toolkit MCP, ask:
In which years from 2005 to 2025 did the United States and the United Kingdom go through a systemic banking crisis?
Which returns:
| United States | United Kingdom | |
|---|---|---|
| 2005 | 0 | 0 |
| 2006 | 0 | 0 |
| 2007 | 1 | 0 |
| 2008 | 0 | 1 |
| 2009 | 0 | 0 |
| 2010 | 0 | 0 |
| 2011 | 0 | 0 |
| 2012 | 0 | 0 |
| 2013 | 0 | 0 |
| 2014 | 0 | 0 |
| 2015 | 0 | 0 |
| 2016 | 0 | 0 |
| 2017 | 0 | 0 |
| 2018 | 0 | 0 |
| 2019 | 0 | 0 |
| 2020 | 0 | 0 |
| 2021 | 0 | 0 |
| 2022 | 0 | 0 |
| 2023 | 0 | 0 |
| 2024 | 0 | 0 |
| 2025 | 0 | 0 |
Parameters
get_banking_crisis accepts the following parameters.
| Parameter | Type | Description | Example |
|---|---|---|---|
countries | list[str] | str | None | A list of countries or a single country to include in the results. Defaults to None. | ["United States", "Germany"] |
rolling | int | The rolling window size to use for smoothing the data (simple moving average). Defaults to None. | 4 |
trailing | int | The trailing window size to use for summing the data over trailing periods (e.g. a trailing-4-quarter sum). Defaults to None. | 4 |
rounding | int | None | The number of decimals to round the results to. Defaults to None. | 2 |
gmdb_forecasts | bool | Whether to include the years the Global Macro Database projects, from the IMF’s World Economic Outlook, up to five years ahead. Only applies to data from the Global Macro Database. Defaults to False, which ends a series with its last observation. | True |