List of Tables

1.1 Defining crises: A Summary of quantitative thresholds
7
1.2 Defining crises by events: A summary 11
2.1 External debt at the time of default: Middle-income countries, 1970-2008 23
2.2 External debt at the time of default: Frequency distribution, 1970-2008 24
2.3 Risk and debt: Panel pairwise correlations, 1979-2007 27
3.1 Countries' share of world GDP, 1913 and 1990 44
6.1 The early external defaults: Europe, 1300-1799 87
6.2 External default and rescheduling: Africa, Europe, and Latin America, nineteenth century 91
6.3 Default and rescheduling: Africa and Asia, twentieth century to 2008 95
6.4 Default and rescheduling: Europe and Latin America, twentieth century to 2008 96
6.5 The cumulative tally of default and rescheduling: Africa and Asia, year of independence to 2008 97
6.6 The cumulative tally of default and rescheduling: Europe, Latin America, North America, and Oceania,
year of independence to 2008
99
7.1 Interest rates on domestic and external debt, 1928-1946 107
7.2 Episodes of domestic debt default or restructuring , 1750-1920 112
7.3 Selected episodes of domestic debt default or restructuring, late 1920s-1950s 113
7.4 Selected episodes of domestic debt default or restructuring, 1970-2008 115

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8.1 Debt ratios at the time of default: Selected episodes  120
8.2 Inflation and domestic debt: Selected episodes, 1917-1994  126
9.1 Output and inflation around and during debt crises  132
9.2 Who gets expropriated, residents or foreigners? Preliminary tests for the equality of two proportions (Binomial distribution), 1800-2006  135
10.1 Debt and banking crises: Africa and Asia, year of independence to 2008  148
10.2 Debt and banking crises: Europe, Latin America, North America, and Oceania, year of independence to 2008 149
10.3 Frequency of banking crises: Africa and Asia, through 2008 151
10.4 Frequency of banking crises: Europe, Latin America, North America, and Oceania, through 2008  152
10.5 Summary of the incidence and frequency of banking crises, 1800 (or year of independence) to 2008  154
10.6 Summary of the incidence and frequency of banking crises, 1945 (or year of independence) to 2008  154
10.7 The effect of a capital flow bonanza on the probability of a banking crisis in a sixty-six country sample, 1960-2007  158
10.8 Cycles of real  housing prices and banking crises  160
10.9 Creative accounting? Bailout costs of banking crises  164

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11.1 Expropriation through currency debasement: Europe, 1258-1799 176
11.2 Expropriation through currency debasement: Europe, nineteenth century 177
12.1 "Default" through inflation: Asia, Europe, and the "New World," 1500-1799 183
12.2 "Default" through inflation: Africa and Asia, 1800-2008 184
12.3 "Default" through inflation: Europe, Latin America, North America, and Oceania, 1800-2008 186
13.1 Post-World War II bank-centered financial crises in advanced economies 216
14.1 Fiscal deficits as a percentage of GDP 231
15.1 Global banking crises, 1890-2008: Contagion or common fundamentals? 243
16.1 Indexes of total building activity in selected countries 268
16.2 Unemployment rates for selected countries, 1929-1932 269
17.1 Early warning indicators of banking and currency crises: A summary 280
17.2 Institutional Investor ratings of sixty-six countries: Upgrade or demotion, 1979-2008 285

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A.1.1 Prices: Consumer or cost-of-living indexes
296
A.1.2 Modern nominal exchange rates 301
A.1.3 Early silver-based exchange rates 305
A.1.4 The silver content of currencies
306
A.1.5 Index of nominal and real gross national product and output
307
A.1.6 Gross national product
311
A.1.7 Central government expenditures and revenues
314
A.1.8 Total exports and imports
320
A.1.9 Global Indicators and financial centers
323
A.1.10 Real house prices 324
A.1.11 Stock market indexes (equity prices) 326
A.2.1 Public debentures: External government bond issues 328
A.2.2 Total (domestic plus external) public debt 330
A.2.3 External public debt 335
A.2.4 Domestic public debt 340
A.3.1 Banking crisis dates and capital mobility, 1800-2008 344
A.4.1 Banking crises: Historical summaries, 1800-2008 348

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