Loughborough University
Browse

File(s) under permanent embargo

Reason: Publisher requirement. Embargo date will be added after publication.

Delving into the effects of financial crises on human development

journal contribution
posted on 2023-12-07, 11:16 authored by Thanh Cong Nguyen, Vitor CastroVitor Castro, Justine WoodJustine Wood

This paper examines the effects of different types of financial crises on overall human development and its components over a panel of 113 countries during the period 1990-2017. Relying on a System-GMM estimator, we find that all types of financial crises have both shortand long-run adverse effects on human development and its components. The adverse effects of banking crises on human development are less severe than those of currency, debt, and twin/triple crises. Delving into the components of human development, education is, in general, less affected by financial crises than health and income. We also find that banking crises have a more significant impact in developed countries, while debt and currency crises are more harmful in developing ones, where education is particularly affected by debt crises. Nevertheless, both groups of countries face some level of deterioration of human development in the aftermath of financial crises.

History

School

  • Loughborough Business School

Published in

Journal of Human Capital

Publisher

The University of Chicago Press

Version

  • AM (Accepted Manuscript)

Acceptance date

2023-11-30

ISSN

1932-8575

eISSN

1932-8664

Language

  • en

Depositor

Dr Vitor Castro. Deposit date: 6 December 2023

Usage metrics

    Loughborough Publications

    Exports

    RefWorks
    BibTeX
    Ref. manager
    Endnote
    DataCite
    NLM
    DC