Causes of banking crises: Deregulation, credit booms and asset bubbles, then and now

► Similarities of the global financial crisis and historical banking crises examined. ► Bivariate and multivariate panel logit models are employed. ► Asset bubbles and credit booms demonstrate the most robust similarities. ► The growth of income inequality helped to inflate the recent housing bubble. ► Capital inflows contributed to the recent housing bubble, but not a primary factor.