Systemic financial crises : containment and resolution
Author(s)
Bibliographic Information
Systemic financial crises : containment and resolution
Cambridge University Press, 2005
- : hardback
Available at 21 libraries
  Aomori
  Iwate
  Miyagi
  Akita
  Yamagata
  Fukushima
  Ibaraki
  Tochigi
  Gunma
  Saitama
  Chiba
  Tokyo
  Kanagawa
  Niigata
  Toyama
  Ishikawa
  Fukui
  Yamanashi
  Nagano
  Gifu
  Shizuoka
  Aichi
  Mie
  Shiga
  Kyoto
  Osaka
  Hyogo
  Nara
  Wakayama
  Tottori
  Shimane
  Okayama
  Hiroshima
  Yamaguchi
  Tokushima
  Kagawa
  Ehime
  Kochi
  Fukuoka
  Saga
  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
  China
  Thailand
  United Kingdom
  Germany
  Switzerland
  France
  Belgium
  Netherlands
  Sweden
  Norway
  United States of America
Note
Includes bibliographical references (p. 341-359) and index
Description and Table of Contents
Description
Faced with a systemic financial sector crisis, policymakers need to make difficult choices under pressure. Based on the experience of many countries in recent years, few have been able to achieve a speedy, lasting and low-cost resolution. This volume considers the strengths and weaknesses of the various policy options, covering both microeconomic (including recapitalization of banks, bank closures, subsidies for distressed borrowers, capital adequacy rules and corporate governance and bankruptcy law requirements) and macroeconomic (including monetary and fiscal policy) dimensions. The contributors explore the important but little understood trade-offs that are involved, such as between policies which take effect quickly, those which minimize long-term fiscal and economic costs, and those which create favorable incentives for future stability. Successfully implementing crisis management and crisis resolution policy required attention to detail and a good flow of information.
Table of Contents
- Foreword Gerard Caprio
- Part I. Introduction: 1. Introduction and overview Patrick Honohan and Luc Laeven
- Part II. Containment and Resolution: 2. Financial crisis policies and resolution mechanisms: a taxonomy from cross-country experience Charles Calomiris, Daniela Klingebiel and Luc Laeven
- 3. Pitfalls in managing closures of financial institutions Carl-Johan Lindgren
- 4. Bank recapitalization: fiscal, monetary and incentive implications Patrick Honohan
- Part III. Models and Econometric Evidence: 5. Policies for banking crises: a theoretical framework Rafael Repullo
- 6. Crisis resolution, policies, and institutions: empirical evidence Stijn Claessens, Daniela Klingebiel and Luc Laeven
- Part IV. Structural Reforms: 7. Financial crises and the presence of foreign banks Adrian Tschoegl
- 8. Maximizing the value of distressed assets: bankruptcy law and the efficient reorganization of firms David Smith and Per Stroemberg
- 9. Crisis resolution and credit allocation: the case of Japan Joe Peek and Eric Rosengren.
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