The Impact of Fintech on the Nexus Between Household Debt and Financial Crises: A Global Perspective

Published: 30 October 2023| Version 1 | DOI: 10.17632/84c3kv6wjg.1
Gecheng YUAN


Four distinct datasets have been employed in our research. To capture our dependent variable (i.e., the occurrence of a financial crisis), we primarily rely on the Systemic Banking Crises Database. This comprehensive dataset has been sourced from the work of Nguyen et al. (2022), who extended the previously established Systemic Banking Crises Database developed by Laeven and Valencia (2020) to encompass data spanning from 1970 to 2019. The second data set was gathered from the Global Debt Database, containing information regarding household debt, non-financial firm debt, and government debt. This dataset provides a comprehensive record of the total gross debt within the private and public non-financial sectors across an extensive panel of 190 countries, with records dating from 1950 to 2021. To enhance data completeness, certain missing values were augmented based on the research by Mian et al. (2017). We acquired the fintech development index from the CrunchBase database, recognized as one of the largest and most reputable repositories of startup company information. This database has been increasingly utilized in recent scholarly publications(Bernstein and Korteweg, 2017). The final category of data about our control variables was drawn from the World Bank.