[eesmith]

Their "happy six", defined as "free of systemic crises since 1970", are Australia, Canada, Hong Kong, Malta, New Zealand, and Singapore.

They do point out the connections to British rule. They give some other reasons as well.

A test for the importance of being fixed to the pound Sterling, etc., is to look to other regions under British rule, like Jamaica, Mauritius, Kenya, Gambia, and Cyprus, and evaluate their banking crises.

I know nothing about that history, just wanted to pointed out that it is, in principle, a testable prediction.