An Analysis of the 200 Uruguayan Banking Crisis
Author :
Publisher : World Bank Publications
Page : 33 pages
File Size : 45,56 MB
Release :
Category :
ISBN :
This Time Is Different
Author : Carmen M. Reinhart
Publisher : Princeton University Press
Page : 513 pages
File Size : 47,97 MB
Release : 2011-08-07
Category : Business & Economics
ISBN : 0691152640
Book Description
An empirical investigation of financial crises during the last 800 years.
Systemic Banking Crises Database
Author : Mr.Luc Laeven
Publisher : International Monetary Fund
Page : 33 pages
File Size : 28,17 MB
Release : 2012-06-01
Category : Business & Economics
ISBN : 1475505051
Book Description
We update the widely used banking crises database by Laeven and Valencia (2008, 2010) with new information on recent and ongoing crises, including updated information on policy responses and outcomes (i.e. fiscal costs, output losses, and increases in public debt). We also update our dating of sovereign debt and currency crises. The database includes all systemic banking, currency, and sovereign debt crises during the period 1970-2011. The data show some striking differences in policy responses between advanced and emerging economies as well as many similarities between past and ongoing crises.
Global Waves of Debt
Author : M. Ayhan Kose
Publisher : World Bank Publications
Page : 403 pages
File Size : 12,56 MB
Release : 2021-03-03
Category : Business & Economics
ISBN : 1464815453
Book Description
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Financial Crises Explanations, Types, and Implications
Author : Mr.Stijn Claessens
Publisher : International Monetary Fund
Page : 66 pages
File Size : 30,18 MB
Release : 2013-01-30
Category : Business & Economics
ISBN : 1475561008
Book Description
This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
Central Banking in Latin America
Author : Mr.Luis Ignacio Jácome
Publisher : International Monetary Fund
Page : 57 pages
File Size : 10,61 MB
Release : 2015-03-17
Category : Business & Economics
ISBN : 1484303180
Book Description
This paper provides a brief historical journey of central banking in Latin America to shed light on the debate about monetary policy in the post-global financial crisis period. The paper distinguishes three periods in Latin America’s central bank history: the early years, when central banks endorsed the gold standard and coped with the collapse of this monetary system; a second period, in which central banks turned into development banks under the aegis of governments at the expense of increasing inflation; and the “golden years,” when central banks succeeded in preserving price stability in an environment of political independence. The paper concludes by cautioning against overburdening central banks in Latin America with multiple mandates as this could end up undermining their hard-won monetary policy credibility.
Global Banks and International Shock Transmission
Author : Nicola Cetorelli
Publisher : DIANE Publishing
Page : 41 pages
File Size : 29,21 MB
Release : 2010-11
Category : Business & Economics
ISBN : 1437933874
Book Description
Global banks played a significant role in transmitting the 2007-09 financial crisis to emerging-market (EM) economies. The authors examine adverse liquidity shocks on main developed-country banking systems and their relationships to EM across Europe, Asia, and Latin Amer., isolating loan supply from loan demand effects. Loan supply in EM across Europe, Asia, and Latin Amer. was affected significantly through three separate channels: (1) a contraction in direct, cross-border lending by foreign banks; (2) a contraction in local lending by foreign banks¿ affiliates in EM; and (3) a contraction in loan supply by domestic banks, resulting from the funding shock to their balance sheets induced by the decline in interbank, cross-border lending. Charts and tables.
From Banking to Sovereign Stress - Implications For Public Debt
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 88 pages
File Size : 23,69 MB
Release : 2014-12-22
Category : Business & Economics
ISBN : 1498342434
Book Description
This paper explores how banking sector developments and characteristics influence the propagation of risks from the banking sector to sovereign debt, including how they affect the extent of fiscal costs of banking crises when those occur. It then proposes practices and policies for the fiscal authorities to help manage the risks and enhance crisis preparedness.
Managing the Real and Fiscal Effects of Banking Crises
Author : Daniela Klingebiel
Publisher : World Bank Publications
Page : 68 pages
File Size : 23,62 MB
Release : 2002
Category : Business & Economics
ISBN : 9780821350560
Book Description
This volume provides two recent analyses of government responses to financial crises; they have been developed in the light of the recent East Asian crisis, but also draw on experiences from other regions. Issues discussed relate to: the tradeoffs involved in public policies for systemic financial and corporate sector restructuring; and the use of cross-country evidence to determine whether specific crisis containment and resolution policies effect the fiscal costs of resolving a crisis. The book also presents information on 113 systemic banking crises that have occurred in 93 countries since the 1970s, as well as 50 borderline or non-systemic banking crises in 44 countries during the same period.
Systemic Banking Crises
Author : Luc Laeven
Publisher : International Monetary Fund
Page : 80 pages
File Size : 14,94 MB
Release : 2008-09
Category : Business & Economics
ISBN :
Book Description
We provide new firm-level evidence on the effects of capital account liberalization. Based on corporate foreign-currency credit ratings data and a novel capital account restrictions index, we find that capital controls can substantially limit access to, and raise the cost of, foreign currency debt, especially for firms without foreign currency revenues. As an identification strategy, we exploit, via a difference-in-difference approach, within-country variation in firms' access to foreign currency, measured by whether or not a firm belongs to the nontradables sector. Nontradables firms benefit substantially more from capital account liberalization than others, a finding that is robust to a broad range of alternative specifications.
