From Systemic Banking Crises to Fiscal Costs: Risk Factors
This paper examines the risk factors associated with fiscal costs of systemic banking crises using cross-country data. We differentiate between immediate direct fiscal costs of government intervention (e.g., recapitalization and asset purchases) and overall fiscal costs of banking crises as proxied...
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C
International Monetary Fund
2015
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| Series: | IMF Working Papers: Working Paper No. 15 / 166
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| Online Access: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Summary: | This paper examines the risk factors associated with fiscal costs of systemic banking crises using cross-country data. We differentiate between immediate direct fiscal costs of government intervention (e.g., recapitalization and asset purchases) and overall fiscal costs of banking crises as proxied by changes in the public debt-to-GDP ratio. We find that both direct and overall fiscal costs of banking crises are high when countries enter the crisis with large banking sectors that rely on external funding, have leveraged non-financial private sectors, and use guarantees on bank liabilities during the crisis. The better quality of banking supervision and the higher coverage of deposit insurance help, however, alleviate the direct fiscal costs. We also identify a possible policy trade-off: costly short-term interventions are not necessarily associated with larger increases in public debt, supporting the thesis that immediate intervention may be actually cost-effective over time |
| Physical Description: | 1 Online-Ressource (43 p) |
| ISBN: | 1513529358 9781513529356 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:37Z |
| indexdate | 2024-07-10T09:35:47Z |
| institution | BVB |
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| record_format | marc |
| series2 | IMF Working Papers: Working Paper No. 15 / 166 |
| spelling | Amaglobeli, David Verfasser aut From Systemic Banking Crises to Fiscal Costs Risk Factors Amaglobeli, David Washington, D.C International Monetary Fund 2015 1 Online-Ressource (43 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers: Working Paper No. 15 / 166 This paper examines the risk factors associated with fiscal costs of systemic banking crises using cross-country data. We differentiate between immediate direct fiscal costs of government intervention (e.g., recapitalization and asset purchases) and overall fiscal costs of banking crises as proxied by changes in the public debt-to-GDP ratio. We find that both direct and overall fiscal costs of banking crises are high when countries enter the crisis with large banking sectors that rely on external funding, have leveraged non-financial private sectors, and use guarantees on bank liabilities during the crisis. The better quality of banking supervision and the higher coverage of deposit insurance help, however, alleviate the direct fiscal costs. We also identify a possible policy trade-off: costly short-term interventions are not necessarily associated with larger increases in public debt, supporting the thesis that immediate intervention may be actually cost-effective over time Online-Ausg End, Nicolas Sonstige oth Jarmuzek, Mariusz Sonstige oth Palomba, Geremia Sonstige oth http://www.elibrary.imf.org/view/IMF001/22695-9781513529356/22695-9781513529356/22695-9781513529356.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Amaglobeli, David From Systemic Banking Crises to Fiscal Costs Risk Factors |
| title | From Systemic Banking Crises to Fiscal Costs Risk Factors |
| title_auth | From Systemic Banking Crises to Fiscal Costs Risk Factors |
| title_exact_search | From Systemic Banking Crises to Fiscal Costs Risk Factors |
| title_exact_search_txtP | From Systemic Banking Crises to Fiscal Costs Risk Factors |
| title_full | From Systemic Banking Crises to Fiscal Costs Risk Factors Amaglobeli, David |
| title_fullStr | From Systemic Banking Crises to Fiscal Costs Risk Factors Amaglobeli, David |
| title_full_unstemmed | From Systemic Banking Crises to Fiscal Costs Risk Factors Amaglobeli, David |
| title_short | From Systemic Banking Crises to Fiscal Costs |
| title_sort | from systemic banking crises to fiscal costs risk factors |
| title_sub | Risk Factors |
| url | http://www.elibrary.imf.org/view/IMF001/22695-9781513529356/22695-9781513529356/22695-9781513529356.xml |
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