COVID-19 and the financial system: a tale of two crises

2020/01/01 by Julia Giese, Andy Haldane
Economics, Econometrics and Finance · #Banking stability, regulation, efficiency #Economic Theory and Policy #Housing, Finance, and Neoliberalism

paper · pdf · doi:10.1093/oxrep/graa035

openalex publication_date 2020/01/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/08/03

Abstract

This paper compares and contrasts the resilience of the financial system, in particular banks, during the Global Financial Crisis and COVID-19. We show that banks are now part of the solution, rather than part of the problem, thanks to regulatory and institutional reforms over the past decade. Heeding the lessons from the Global Financial Crisis has paid dividends. We outline some early lessons from the COVID-19 crisis for the financial system going forward.

Citations

• When Credit Bites Back

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