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A LITERATURE REVIEW FOR EXPERIMENTAL STUDIES OF BANK RUNS / Banka Hücumlarına İlişkin Deneysel Çalışmalara Ait Bir Literatür Taraması

Year 2020, Volume: 4 Issue: 1, 141 - 152, 30.04.2020
https://doi.org/10.29216/ueip.660109

Abstract

2007-2008
küresel finansal krizi boyunca ve sonrasında farklı batı ülkelerinde yaşanan ve
eski hayaletin uyanması olarak da değerlendirilebilen banka hücumlarının
görülmesi ile bu banka hücumlarının oluşumu ve bunları etkileyen temel
faktörler için yapılan çalışmalara duyulan ihtiyaç artmıştır. Küresel finansal
krizden önce, banka hücumları hakkında sadece iki adet deneysel araştırma vardı.
Bankacılık ve finans alanında deneysel yöntemlerin popülerleşmesi ve son
küresel finansal krizin sonucu olarak bu alandaki makale sayısı son on yılda hızla
artmıştır. Bu makale, banka hücumları ile ilgili deneysel araştırmaları analiz
ederek bu alana ilişkin bir literatür taraması yapmaktadır. Literatür
taramasının sonuçları, iki yol ayrımını ortaya koymaktadır. Literatürdeki
çalışmaların bir kolu, psikolojik faktörler dikkate alınarak konuya daha
bireysel bir düzeyde yaklaşırken, diğer makaleler çoğunlukla bulaşıcılık
etkileri gibi banka faaliyetlerinin makro etkileriyle ilgilenmektedirler.

References

  • Arifovic, J., Jiang, J.H. (2019). Strategic uncertainty and the power of extrinsic signals–evidence from an experimental study of bank runs. Journal of Economic Behavior & Organization, 167, 1-17.
  • Arifovic, J., Jiang, J.H., Xu, Y. (2013). Experimental evidence of bank runs as pure coordination failures. Journal of Economic Dynamics and Control, 37(12), 2446-2465.
  • Balkenborg, D., Kaplan, T., Miller, T., (2011). Teaching Bank Runs with Classroom Experiments. The Journal of Economic Education, 42(3), 224-242.
  • Brown, M., Trautmann, S.T., Vlahu, R. (2017). Understanding Bank-Run Contagion. Management Science, 63(7), 2272-2282.
  • Brown, M., Trautmann, S.T., Vlahu, R., (2012). Contagious Bank Runs: Experimental Evidence: DNB Working Paper, No. 363.
  • Chakravarty, S., Fonseca, M.A., Kaplan, T.R. (2014). An Experiment on the Causes of Bank Run Contagions. European Economic Review, 72, 39-51.
  • Demirgüç-Kunt, A., Detragiache, E. (2002). Does Deposit Insurance Increase Banking System Stability?. Journal of Monetary Economics, 49(7), 1373-1406.
  • Devetag, G., Ortmann, A. (2007). When and Why? A Critical Survey on Coordination Failure in the Laboratory. Experimental Econonomics, 103, 331-344.
  • Diamond, D.W., Dybvig, P.H., (1983). Bank Runs, Deposit Insurance, and Liquidity. Journal of Political Economy, 91(3), 401–419.
  • Dijk, O. (2017). Bank Run Psychology. Journal of Economic Behavior and Organization, 144, 87–96.
  • Duffy, J. (2008). Macroeconomics: A Survey of Laboratory Research, Working Papers 334, University of Pittsburgh, Department of Economics, revised Mar 2008.
  • Dufwenberg, M. (2015). Banking on Experiments?, Journal of Economic Studies, 42(6), 943-971.
  • Garratt, R., Keister, T. (2009). Bank Runs as Coordination Failures: An Experimental study. Journal of Economic Behavior & Organization, 71(2), 300-317.
  • Gilbert, R.A. (1988). A Re-examination of the History of Bank Failures, Contagion, and Banking Panics: Proceedings of a Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, 195.
  • Heinemann, F. (2012). Understanding Financial Crises: The Contribution of Experimental Economics. Annals of Economics and Statistics, 107/108, 7-29.
  • Hoggarth, G., Jackson, P., Nier, E. (2005). Banking Crises and the Design of Safety Nets. Journal of Banking and Finance, 29(1), 143-159.
  • Kassis, M.M., Hazlett, D., Battisti, J.E.Y. (2012). A Classroom Experiment on Banking. The Journal of Economic Education, 43(2), 200-214.
  • Kiss, H.J., Rodriguez-Lara, I., Rosa-Garcia, A. (2012). On the Effects of Observability and Deposit Insurance on Bank Runs: an Experimental Study. Journal of Money, Credit and Banking, 44, 1651–1665.
  • Kiss, H.J., Rodriguez-Lara, I., Rosa-Garcia, A. (2014). Do Social Networks Prevent or Promote Bank Runs?. Journal of Economic Behaviour Organisation, 101, 87–99.
  • Kiss, H.J., Rodriguez-Lara, I., Rosa-García, A. (2016). Think twice before running! Bank runs and cognitive abilities. Journal of Behavioral and Experimental Economics, 64, 12-19.
  • Kiss, H.J., Rodriguez-Lara, I., Rosa-Garcia, A. (2018). Panic Bank Runs. Economics Letters, 162,146–149.
  • Klos, A., Sträter, N. (2008). Global Games and Demand-Deposit Contracts: An Experimental Study of Bank Runs” Finance Center Münster Working Paper.
  • Leaven, L., Valencia, F. (2020). Systemic Banking Crises Database II. IMF Economic Review, published online: 30 January 2020. Forthcoming.
  • Madiès, P. (2006). An Experimental Exploration of Self-Fulfilling Banking Panics: Their Occurrence, Persistence, and Prevention. Journal of Business, 79(4), 1831-1866.
  • Peia, O., Vranceanu, R. (2019). Experimental Evidence on Bank Runs with Uncertain Deposit Coverage, Journal of Banking & Finance, 106, 214-226.
  • Schotter, A., Yorulmazer, T. (2009). On the Dynamics and Severity of Bank Runs: An Experimental Study: Journal of Financial Intermediation, 18, 217–241.
  • Shakina, E. (2019). Bank runs as a coordination problem within a two-bank set-up: Who will survive?. Economics Letters, 177, 85-88.
  • Wheelock, D.C., Wilson, P.W. (1995). Evaluating the Efficiency of Commercial Banks: Does our View of What Banks Do Matter?. Review Federal Reserve Bank of St. Louis, 77(4), 39-52.

A LITERATURE REVIEW FOR EXPERIMENTAL STUDIES OF BANK RUNS / Banka Hücumlarına İlişkin Deneysel Çalışmalara Ait Bir Literatür Taraması

Year 2020, Volume: 4 Issue: 1, 141 - 152, 30.04.2020
https://doi.org/10.29216/ueip.660109

Abstract

With the bank runs experienced in
different western countries during and after the 2007-2008 global financial
crisis, bank run phenomena can be seen as the awakening of a ghost in financial
markets, which is a definite call for research for the fundamental factors that
derive bank runs. Prior to the global financial crisis there were only two
experimental researches of bank runs. Parallel with the experimental methods being
popular in finance and the latest global financial crisis, the number of papers
in the field has risen sharply. This paper reviews the state of art for the
experimental researches of bank runs. The results of the literature review
indicate that some papers are approaching to the issue in a more individual
level by taking into account psychological factors, while other papers are
mostly interested in macro impacts of bank runs, such as contagion effects.

References

  • Arifovic, J., Jiang, J.H. (2019). Strategic uncertainty and the power of extrinsic signals–evidence from an experimental study of bank runs. Journal of Economic Behavior & Organization, 167, 1-17.
  • Arifovic, J., Jiang, J.H., Xu, Y. (2013). Experimental evidence of bank runs as pure coordination failures. Journal of Economic Dynamics and Control, 37(12), 2446-2465.
  • Balkenborg, D., Kaplan, T., Miller, T., (2011). Teaching Bank Runs with Classroom Experiments. The Journal of Economic Education, 42(3), 224-242.
  • Brown, M., Trautmann, S.T., Vlahu, R. (2017). Understanding Bank-Run Contagion. Management Science, 63(7), 2272-2282.
  • Brown, M., Trautmann, S.T., Vlahu, R., (2012). Contagious Bank Runs: Experimental Evidence: DNB Working Paper, No. 363.
  • Chakravarty, S., Fonseca, M.A., Kaplan, T.R. (2014). An Experiment on the Causes of Bank Run Contagions. European Economic Review, 72, 39-51.
  • Demirgüç-Kunt, A., Detragiache, E. (2002). Does Deposit Insurance Increase Banking System Stability?. Journal of Monetary Economics, 49(7), 1373-1406.
  • Devetag, G., Ortmann, A. (2007). When and Why? A Critical Survey on Coordination Failure in the Laboratory. Experimental Econonomics, 103, 331-344.
  • Diamond, D.W., Dybvig, P.H., (1983). Bank Runs, Deposit Insurance, and Liquidity. Journal of Political Economy, 91(3), 401–419.
  • Dijk, O. (2017). Bank Run Psychology. Journal of Economic Behavior and Organization, 144, 87–96.
  • Duffy, J. (2008). Macroeconomics: A Survey of Laboratory Research, Working Papers 334, University of Pittsburgh, Department of Economics, revised Mar 2008.
  • Dufwenberg, M. (2015). Banking on Experiments?, Journal of Economic Studies, 42(6), 943-971.
  • Garratt, R., Keister, T. (2009). Bank Runs as Coordination Failures: An Experimental study. Journal of Economic Behavior & Organization, 71(2), 300-317.
  • Gilbert, R.A. (1988). A Re-examination of the History of Bank Failures, Contagion, and Banking Panics: Proceedings of a Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, 195.
  • Heinemann, F. (2012). Understanding Financial Crises: The Contribution of Experimental Economics. Annals of Economics and Statistics, 107/108, 7-29.
  • Hoggarth, G., Jackson, P., Nier, E. (2005). Banking Crises and the Design of Safety Nets. Journal of Banking and Finance, 29(1), 143-159.
  • Kassis, M.M., Hazlett, D., Battisti, J.E.Y. (2012). A Classroom Experiment on Banking. The Journal of Economic Education, 43(2), 200-214.
  • Kiss, H.J., Rodriguez-Lara, I., Rosa-Garcia, A. (2012). On the Effects of Observability and Deposit Insurance on Bank Runs: an Experimental Study. Journal of Money, Credit and Banking, 44, 1651–1665.
  • Kiss, H.J., Rodriguez-Lara, I., Rosa-Garcia, A. (2014). Do Social Networks Prevent or Promote Bank Runs?. Journal of Economic Behaviour Organisation, 101, 87–99.
  • Kiss, H.J., Rodriguez-Lara, I., Rosa-García, A. (2016). Think twice before running! Bank runs and cognitive abilities. Journal of Behavioral and Experimental Economics, 64, 12-19.
  • Kiss, H.J., Rodriguez-Lara, I., Rosa-Garcia, A. (2018). Panic Bank Runs. Economics Letters, 162,146–149.
  • Klos, A., Sträter, N. (2008). Global Games and Demand-Deposit Contracts: An Experimental Study of Bank Runs” Finance Center Münster Working Paper.
  • Leaven, L., Valencia, F. (2020). Systemic Banking Crises Database II. IMF Economic Review, published online: 30 January 2020. Forthcoming.
  • Madiès, P. (2006). An Experimental Exploration of Self-Fulfilling Banking Panics: Their Occurrence, Persistence, and Prevention. Journal of Business, 79(4), 1831-1866.
  • Peia, O., Vranceanu, R. (2019). Experimental Evidence on Bank Runs with Uncertain Deposit Coverage, Journal of Banking & Finance, 106, 214-226.
  • Schotter, A., Yorulmazer, T. (2009). On the Dynamics and Severity of Bank Runs: An Experimental Study: Journal of Financial Intermediation, 18, 217–241.
  • Shakina, E. (2019). Bank runs as a coordination problem within a two-bank set-up: Who will survive?. Economics Letters, 177, 85-88.
  • Wheelock, D.C., Wilson, P.W. (1995). Evaluating the Efficiency of Commercial Banks: Does our View of What Banks Do Matter?. Review Federal Reserve Bank of St. Louis, 77(4), 39-52.
There are 28 citations in total.

Details

Primary Language English
Subjects Finance
Journal Section RESEARCH ARTICLES
Authors

Elmas Yaldiz Hanedar 0000-0002-2996-3498

Publication Date April 30, 2020
Published in Issue Year 2020 Volume: 4 Issue: 1

Cite

APA Yaldiz Hanedar, E. (2020). A LITERATURE REVIEW FOR EXPERIMENTAL STUDIES OF BANK RUNS / Banka Hücumlarına İlişkin Deneysel Çalışmalara Ait Bir Literatür Taraması. Uluslararası Ekonomi İşletme Ve Politika Dergisi, 4(1), 141-152. https://doi.org/10.29216/ueip.660109

Recep Tayyip Erdogan University
Faculty of Economics and Administrative Sciences
Department of Economics
RIZE / TURKEY