Resolving systemic financial crises: policies and institutions
"Claessens, Klingebiel, and Laeven analyze the role of institutions in resolving systemic banking crises for a broad sample of countries. Banking crises are fiscally costly, especially when policies like substantial liquidity support, explicit government guarantees on financial institutions...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C]
World Bank
[2004]
|
| Schriftenreihe: | Policy research working paper
3377 |
| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | "Claessens, Klingebiel, and Laeven analyze the role of institutions in resolving systemic banking crises for a broad sample of countries. Banking crises are fiscally costly, especially when policies like substantial liquidity support, explicit government guarantees on financial institutions' liabilities, and forbearance from prudential regulations are used. Higher fiscal outlays do not, however, accelerate the recovery from a crisis. Better institutions--less corruption, improved law and order, legal system, and bureaucracy--do. The authors find these results to be relatively robust to estimation techniques, including controlling for the effects of a poor institutional environment on the likelihood of financial crisis and the size of fiscal costs. Their results suggest that countries should use strict policies to resolve a crisis and use the crisis as an opportunity to implement medium-term structural reforms, which will also help avoid future systemic crises. This paper--a product of the Financial Sector Operations and Policy Department--is part of a larger effort in the department to study financial crisis resolution"--World Bank web site |
| Beschreibung: | Includes bibliographical references Title from PDF file as viewed on 9/9/2004 |
| Beschreibung: | 1 Online-Ressource |
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| 520 | 3 | |a "Claessens, Klingebiel, and Laeven analyze the role of institutions in resolving systemic banking crises for a broad sample of countries. Banking crises are fiscally costly, especially when policies like substantial liquidity support, explicit government guarantees on financial institutions' liabilities, and forbearance from prudential regulations are used. Higher fiscal outlays do not, however, accelerate the recovery from a crisis. Better institutions--less corruption, improved law and order, legal system, and bureaucracy--do. The authors find these results to be relatively robust to estimation techniques, including controlling for the effects of a poor institutional environment on the likelihood of financial crisis and the size of fiscal costs. Their results suggest that countries should use strict policies to resolve a crisis and use the crisis as an opportunity to implement medium-term structural reforms, which will also help avoid future systemic crises. This paper--a product of the Financial Sector Operations and Policy Department--is part of a larger effort in the department to study financial crisis resolution"--World Bank web site | |
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Datensatz im Suchindex
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| index_date | 2024-07-03T22:27:48Z |
| indexdate | 2024-07-10T09:54:32Z |
| institution | BVB |
| language | English |
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| spelling | Klingebiel, Daniela Verfasser aut Resolving systemic financial crises policies and institutions Daniela Klingebiel, Stijn Claessens, and Luc Laeven [Washington, D.C] World Bank [2004] 1 Online-Ressource txt rdacontent c rdamedia cr rdacarrier Policy research working paper 3377 Includes bibliographical references Title from PDF file as viewed on 9/9/2004 "Claessens, Klingebiel, and Laeven analyze the role of institutions in resolving systemic banking crises for a broad sample of countries. Banking crises are fiscally costly, especially when policies like substantial liquidity support, explicit government guarantees on financial institutions' liabilities, and forbearance from prudential regulations are used. Higher fiscal outlays do not, however, accelerate the recovery from a crisis. Better institutions--less corruption, improved law and order, legal system, and bureaucracy--do. The authors find these results to be relatively robust to estimation techniques, including controlling for the effects of a poor institutional environment on the likelihood of financial crisis and the size of fiscal costs. Their results suggest that countries should use strict policies to resolve a crisis and use the crisis as an opportunity to implement medium-term structural reforms, which will also help avoid future systemic crises. This paper--a product of the Financial Sector Operations and Policy Department--is part of a larger effort in the department to study financial crisis resolution"--World Bank web site Online-Ausg Also available in print Banks and banking Case studies Financial crises Case studies Claessens, Stijn Sonstige oth World Bank Sonstige oth Klingebiel, Daniela Resolving systemic financial crises http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3377 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Klingebiel, Daniela Resolving systemic financial crises policies and institutions Banks and banking Case studies Financial crises Case studies |
| title | Resolving systemic financial crises policies and institutions |
| title_auth | Resolving systemic financial crises policies and institutions |
| title_exact_search | Resolving systemic financial crises policies and institutions |
| title_exact_search_txtP | Resolving systemic financial crises policies and institutions |
| title_full | Resolving systemic financial crises policies and institutions Daniela Klingebiel, Stijn Claessens, and Luc Laeven |
| title_fullStr | Resolving systemic financial crises policies and institutions Daniela Klingebiel, Stijn Claessens, and Luc Laeven |
| title_full_unstemmed | Resolving systemic financial crises policies and institutions Daniela Klingebiel, Stijn Claessens, and Luc Laeven |
| title_short | Resolving systemic financial crises |
| title_sort | resolving systemic financial crises policies and institutions |
| title_sub | policies and institutions |
| topic | Banks and banking Case studies Financial crises Case studies |
| topic_facet | Banks and banking Case studies Financial crises Case studies |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3377 |
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