Financial sector inefficiencies and coordination failures: implications for crisis management

In a country where financial intermediation is highly inefficient (with the enforcement costs of loan contracts very high, for example), or in one experiencing great volatility and large adverse shocks in output, the likelihood of an inefficient equilibrium is great. In East Asia it may be in the in...

Ausführliche Beschreibung

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Bibliographische Detailangaben
Hauptverfasser: Agénor, Pierre-Richard 1957- (VerfasserIn), Aizenman, Joshua 1949- (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, DC World Bank, World Bank Institute, Economic Policy and Poverty Reduction 1999
Schriftenreihe:Policy research working paper 2185
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Online-Zugang:URL des Erstveröffentlichers
Zusammenfassung:In a country where financial intermediation is highly inefficient (with the enforcement costs of loan contracts very high, for example), or in one experiencing great volatility and large adverse shocks in output, the likelihood of an inefficient equilibrium is great. In East Asia it may be in the interests of both debtors and creditors to collectively reduce the face value of debt, to reduce inefficiencies in the financial sector
Beschreibung:"September 1999. - Cover title. - Includes bibliographical references (p. 19-20)
Erscheinungsjahr in Vorlageform:[1999]
Beschreibung:1 Online-Ressource (20, [3] Seiten) Illustrationen 28 cm