Resolutions of weak institutions Lessons learned from previous crises
Resolutions of weak institutions: Lessons learned from previous crises

The present financial crisis may be added to a growing list of episodes worldwide in which financial sector problems have become systemic in nature. Many OECD countries have been affected, either directly or through the transmission of problems cross-border. Most financial crises share a number of c...

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Bibliographische Detailangaben
1. Verfasser: Lumpkin, Stephen (VerfasserIn)
Format: Elektronisch Buchkapitel
Sprache:English
Veröffentlicht: Paris OECD Publishing 2009
Schlagworte:
Finance and Investment
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Zusammenfassung:The present financial crisis may be added to a growing list of episodes worldwide in which financial sector problems have become systemic in nature. Many OECD countries have been affected, either directly or through the transmission of problems cross-border. Most financial crises share a number of common elements.For instance, financial innovation has often played a role in distress episodes, in many cases, having much to do with their idiosyncratic aspects. For example, structured credit products and the latest incarnation of the originate-and-distribute model of intermediation have been at the epicentre of the current crisis. It differs from other crisis episodes in having a sub-component of the residential mortgage sector as its trigger, while previous crises have more often been prompted by problems in the commercial mortgage market and with corporate clients
Beschreibung:1 Online-Ressource (47 Seiten)
DOI:10.1787/fmt-v2008-art13-en

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