Portugal, 1890–1901

Crisis years in this episode

Every distinct (year, type) event inside the 1890–1901 window, with the chronologies flagging it and the count of agreeing sources. Start-year sources (GMD, JST) mark only the first year, so agreement falls in the continuation years.

1. 1890
   Bankinggmd, jst, rr3 sources
2. 1891
   Currencygmd, rr2 sources
3. 1892
   Sovereign debtgmd, rr2 sources
4. 1893
   Sovereign debtrr1 source
5. 1894
   Sovereign debtrr1 source
6. 1895
   Sovereign debtrr1 source
7. 1896
   Sovereign debtrr1 source
8. 1897
   Sovereign debtrr1 source
9. 1898
   Sovereign debtrr1 source
10. 1899
    Sovereign debtrr1 source
11. 1900
    Sovereign debtrr1 source
12. 1901
    Sovereign debtrr1 source

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020, 2026) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Laeven-Valencia banking-crisis detail

This banking episode is not in the Laeven-Valencia systemic banking crises database, which covers systemic banking crises from 1970. The crisis is dated here by other chronologies (GMD, JST, Reinhart-Rogoff, or ESRB), none of which report a fiscal cost or output loss.

Macro context, 1883–1908

Seven years either side of the episode. Each panel has its own scale; the crisis window is shaded. Only indicators with data for Portugal in this window are shown. Bank credit growth (year over year in total loans) is available for the 18 Jordà-Schularick-Taylor advanced economies.

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 (credit) Real GDP growth is derived as the year-over-year change in real GDP; current account and government debt are percent of GDP; policy rate is the central-bank rate; bank credit growth is the year-over-year change in JST total loans. Methodology

How each source dates this episode

The chronologies disagree on start years and durations. This table is generated from the event rows, not curated: it lists, per crisis type, which source flags which years inside the window.

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020, 2026) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Documented policy responses

3 interventions from the Metrick-Schmelzing banking-crisis database whose recorded year falls inside this episode window (1890–1901). Each row is one documented government or central-bank action, tagged with the database’s own intervention categories and short code, under the crisis code it assigns. Matching is exact: same country, intervention year inside the window. The database’s global-crisis rows (no country) are never matched here.

Source: Metrick-Schmelzing Banking-Crisis Interventions Database (Yale Program on Financial Stability) Cite as: Metrick, Andrew, and Paul Schmelzing, "Banking-Crisis Interventions Across Time and Space," working paper, 2024 (dataset consulted 2026-07-10). License: Creative Commons attribution. Methodology

Policy-response case studies (external)

For qualitative accounts of how authorities intervened in systemic crises, see the Yale Program on Financial Stability New Bagehot Project, a library of financial-crisis intervention case studies. It is a separate qualitative resource; no specific case is asserted to match this episode.