Ecfun: readFinancialCrisisFiles – R documentation

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readFinancialCrisisFiles

banking crisis data and function to read financial crisis files

Description

DELETED FUNCTION TO: Read financial crisis data in files described by an object of class financialCrisisFiles. This was designed to read Excel files describing financial crises since 1800 downloaded from http://www.reinhartandrogoff.com/data/browse-by-topic/topics/7/.

bankingCrises is a data.frame created by readFinancialCrisisFiles() using 3 files downloaded from http://www.reinhartandrogoff.com and 1 obtained from Prof. Reinhart in January 2013.

THIS FUNCTION HAS BEEN MADE INOPERATIVE, BECAUSE IT REQUIRED THE gdata PACKAGE, WHICH WAS SCHEDULED TO BE REMOVED FROM CRAN. IF THAT HAPPENED, Ecfun would also be removed, and it wasn't clear that it was worth the effort to rewrite it so it worked without gdata. If you need it please either get it from a version that has it, e.g., Ecfun 0.2-2 and fix it or write to the Ecfun maintainer, and ask that it be fixed. It's not clear that Reinhart and Rogoff are maintaining their data set. If not, this function should not be needed.

THIS HELP PAGE WILL LIKELY BE DELETED FROM A FUTURE VERSION OF Ecfun. 2020-10-26.

Usage

readFinancialCrisisFiles(files, crisisType=7, ...)

Arguments

`files`	an object of class `financialCrisisFiles`.
`crisisType`	an integer (vector) between 1 and 8 indicating the type of data to be retrieved: 1=independence year (not a crisis but an indicator), 2=currency, 3=inflation, 4=stock market, 5=domestic sovereign debt crisis, 6=external sovereign debt crisis, 7=banking, 8=tally. ("Type" 1 = year.) These are all 0 or 1 indicating the presence of the event in the given year. Type 8 = sum of types 2 through 7.
`...`	arguments to pass with file and sheet name to `read.xls` when reading a sheet of an MS Excel file. This is assumed to be the same for all sheets of all files. If this is not the case, the resulting `financialCrisisFiles` object will have to be edited manually before using it to read the data.

Details

Reinhart and Rogoff provided numerous data sets analyzed in their book, "This Time Is Different: Eight Centuries of Financial Folly". Of interest here are data on financial crises of various types for 70 countries spanning the years 1800 - 2010.

These files were removed from the web site for the book some time between 2015-04-19 and 2015-04-26. They are still available from the Internet Archive at https://web.archive.org/web/20150419090824/http://www.reinhartandrogoff.com/data/browse-by-topic/topics/7/

Sometime between 2019-09-19 and 2020-02-02, the web site for the book itself was inactivated. For the web site as of 2019-09-19 see: https://web.archive.org/web/20190919224018/http://www.reinhartandrogoff.com/. This includes a link to "Full Dataset to All Figures and Tables in the Book", which an interested user may wish to consult and compare with the data as of 2015-04-19, cited above.

The function financialCrisisFiles produces a list of class financialCrisisFiles describing different Excel files in very similar formats with one sheet per Country and a few extra descriptor sheets. The data object FinancialCrisisFiles is the default output of that function.

readFinancialCrisisFiles reads the sheets for the individual countries.

Value

If length(crisisType) == 1, a data.frame is returned with the first column being year, and with one other column containing the data for that crisisType for each country.

If length(crisisType) > 1, a list is returned containing a data.frame for each country.

Author(s)

Spencer Graves

Source

http://www.reinhartandrogoff.com

References

Carmen M. Reinhart and Kenneth S. Rogoff (2009) This Time Is Different: Eight Centuries of Financial Folly, Princeton U. Pr.

Examples

##
## Recreate / update the data object BankingCrises
##
library(Ecdat)

## Not run: 
bankingCrises <- readFinancialCrisisFiles(FinancialCrisisFiles)

##
## Toy example using local data to check the code
## and illustrate returning all the data not just one
## crisisType
##
Ecdat.demoFiles <- system.file('demoFiles', package='Ecdat')
Ecdat.xls <- dir(Ecdat.demoFiles, pattern='xls$',
                 full.names=TRUE)
if(FALSE){
  tst <- financialCrisisFiles(Ecdat.xls)

# optional tests if not CRAN   
  if(!fda::CRAN()){
  bankingCrises.tst <- readFinancialCrisisFiles(tst)
  allCrises.tst <- readFinancialCrisisFiles(tst, 1:8)

# Manually construct tst from allCrises.tst
  tst2 <- data.frame(year=1800:1999)
  tst2$Algeria <- as.numeric(allCrises.tst$Algeria[-(1:12), 8])
  tst2$CentralAfricanRep <- as.numeric(
                    allCrises.tst$CentralAfricanRep[-(1:12), 8])
  tst2$Taiwan <- as.numeric(allCrises.tst$Taiwan[-(1:11), 8])
  tst2$UK <- as.numeric(allCrises.tst$UK[-(1:11), 8])

\dontshow{stopifnot(}
all.equal(bankingCrises.tst, tst2)
\dontshow{)}

# check
data(bankingCrises)
\dontshow{stopifnot(}
all.equal(bankingCrises.tst,
   bankingCrises[1:200, c('year', 'Algeria', 'CentralAfricanRep',
                           'Taiwan', 'UK')])
\dontshow{)}
}
}

## End(Not run)

Ecfun

Functions for 'Ecdat'

v0.2-4

GPL (>= 2)

Authors

Spencer Graves <spencer.graves@effectivedefense.org>

Initial release

2020-10-26