Remedies For Twin Currency Banking Crises
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Remedies For Twin Currency Banking Crises
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Author : Levent Yildiran
language : en
Publisher:
Release Date : 2003
Remedies For Twin Currency Banking Crises written by Levent Yildiran and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
The moral hazard of four groups of agents determines the likelihood of crises. Chapter 2 is on banks'moral hazard. The question is, how to optimally regulate heterogeneous banks ? It shows that the banks which have higher cost borrowing are more likely to gamble, so they must be subject to more strict capital requirements. Chapter 3 is on banks' and depositors' moral hazard. It explains why capital regulations may be inadequate and whether market discipline can be established through subordinated debt requirement. Chapter 4 is on international investors' and local governements' moral hazard. It identifies the market failures that lead to excessive hot money flows to developing countries : International investors overlend because there are externalities among them; local governments overborrow because they maximize their short term private benefits. It proposes that the capital flows to a country should be constrained to the foreign currency generating capacity of that country.
Explaining The Twin Crises In Indonesia
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Author : Rahmatina Kasri
language : en
Publisher:
Release Date : 2014
Explaining The Twin Crises In Indonesia written by Rahmatina Kasri and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
The co-existence of the 'twin' banking and currency crises in emerging market economies has raised concerns regarding the underlying causes and potential remedies. Literatures suggest that there are at least three major approaches that could be used to explain the phenomenon: the microeconomic perspective which emphasizes the role of asymmetric information problems inthe banking sector, the macroeconomics perspectives that link the financial liberalization with the banking sector risky behaviors, and the new institutional perspectives incorporating political and financial institutions into the analysis of crisis. Using these frameworks to analyze the twin crises in Indonesia during the 1997-2000 periods, it is suggested that the crises are rooted in and could be well-explained by the asymmetric information model. Although the other models also influence the co-existence of banking and currency crises, it was the asymmetric information problems before and during the crises combined with political turmoil which magnified the contagion effect of the currency crisis in the neighboring countries to the Indonesian economy. Prior to the crises,moral hazard and adverse selection problems both in economic and political fields have significantly contributed to weak micro banking fundamental in the Indonesian banking system. High non-performing loans and weaknesses in the prudential regulation were also evident. Similarly, the post crises experiences demonstrated that uncertainty regarding the economic reform programs and political stability had undermined market confidence, triggered bank panics and worsened currency crisis. Findings of this study are expected to increase understanding on the determinants of twin crises as well as to provide valuable lessons in managing and maintaining robust financial sector in Indonesia.
Financial Crises Challenges And Solutions
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Author :
language : en
Publisher: BoD – Books on Demand
Release Date : 2023-11-02
Financial Crises Challenges And Solutions written by and has been published by BoD – Books on Demand this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-11-02 with Social Science categories.
Financial Crises - Challenges and Solutions examines why and how financial crises occur and what can be learned from past crises. It puts forth possible solutions to avoid the recurrence of crises and offers empirical evidence and policy implications, making it a useful resource for researchers in finance.
Financial Crises In Emerging Markets
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Author : Roberto Chang
language : en
Publisher: Universities Press
Release Date : 1998
Financial Crises In Emerging Markets written by Roberto Chang and has been published by Universities Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with categories.
We present a simple model that can account for the main features of recent financial crises in emerging markets. The international illiquidity of the domestic financial system is at the center of the problem. Illiquid banks are a necessary and a sufficient condition for financial crises to occur. Domestic financial liberalization and capital flows from abroad (especially if short term) can aggravate the illiquidity of banks and increase their vulnerability to exogenous shocks and shifts in expectations. A bank collapse multiplies the harmful effects of an initial shock, as a credit squeeze and costly liquidation of investment projects cause real output drops and collapses in asset prices. Under fixed exchange rates, a run on banks becomes a run on the currency if the Central Bank attempts to act as a lender of last resort.
Currency And Banking Crises
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Author : Graciela Kaminsky
language : en
Publisher:
Release Date : 2003
Currency And Banking Crises written by Graciela Kaminsky and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
The abruptness and virulence of the 1997 Asian crises have led many to claim that these crises are of a new breed and thus they were unforecastable. This paper examines 102 financial crises in 20 countries and concludes that the Asian crises are not of a new variety. Overall, the 1997 Asian crises, as well as previous crises in other regions, occur when the economies are in distress, making the degree of fragility of the economy a useful indicator of future crises. Based on this idea, the paper proposes different composite leading indicators of crises, which are evaluated in terms of accuracy both in-sample and out-of-sample.
Financial Crises Explanations Types And Implications
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Author : Mr.Stijn Claessens
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-30
Financial Crises Explanations Types And Implications written by Mr.Stijn Claessens and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-30 with Business & Economics categories.
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.
International Convergence Of Capital Measurement And Capital Standards
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Author :
language : en
Publisher: Lulu.com
Release Date : 2004
International Convergence Of Capital Measurement And Capital Standards written by and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Bank capital categories.
Systemic Banking Crises Database
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Author : Mr.Luc Laeven
language : en
Publisher: International Monetary Fund
Release Date : 2012-06-01
Systemic Banking Crises Database written by Mr.Luc Laeven and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-01 with Business & Economics categories.
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
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Author : M. Ayhan Kose
language : en
Publisher: World Bank Publications
Release Date : 2021-03-03
Global Waves Of Debt written by M. Ayhan Kose and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-03 with Business & Economics categories.
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
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Author : Mr.Stijn Claessens
language : en
Publisher: International Monetary Fund
Release Date : 2014-02-19
Financial Crises written by Mr.Stijn Claessens and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-19 with Business & Economics categories.
The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.