Stock Market Responses To Bank Restructuring Policies During The East Asian Crisis
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Stock Market Responses To Bank Restructuring Policies During The East Asian Crisis
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Author :
language : en
Publisher: World Bank Publications
Release Date : 2001
Stock Market Responses To Bank Restructuring Policies During The East Asian Crisis written by 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 2001 with Bank failures categories.
During a crisis of confidence, announcements of deposit guarantees may give market participants short-term confort. But stock market responses show that using public funds for bank bailouts is not a credible way to restore the health of the financial sector.
Stock Market Responses To Bank Restructuring Policies During The East Asian Crisis
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Author : Daniela Klingebiel
language : en
Publisher:
Release Date : 2004
Stock Market Responses To Bank Restructuring Policies During The East Asian Crisis written by Daniela Klingebiel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
During a crisis of confidence, announcements of deposit guarantees may give market participants short-term comfort. But stock market responses show that using public funds for bank bailouts is not a credible way to restore the health of the financial sector.The East Asian crisis began in Thailand in mid-1997 when an ailing financial sector, a slowdown in exports, and large increases in central bank credit to weak financial institutions triggered a run on the baht. Then the crisis spread to other countries in the region as common vulnerabilities and revaluations of risk in emerging markets triggered large capital outflows.To better understand the impact of different policy responses to financial crises, Klingebiel, Kroszner, Laeven, and van Oijen investigate how stock markets in East Asian countries reacted to the initial policy announcements of bank and financial restructuring - especially how banking and nonfinancial sectors in Indonesia, the Republic of Korea, Malaysia, and Thailand fared in response to announcements of different restructuring measures.They find that prices of bank stocks responded positively to announcements about government guarantees of bank liabilities. Nonfinancial companies gained in value when guarantees were announced, but their stock prices were negatively affected by announcements favoring public recapitalization schemes and generous liquidity support programs.Possibly the market was concerned that public funds per se would not restore the health of the financial sector - that they would not be sufficient or would not be used to restructure bank balance sheets and operations and allow banks to engage in meaningful corporate restructuring. The announcements of increased public support may have been viewed as a signal that the financial institutions were in a financially weaker position than previously thought.This paper - a product of the Financial Sector Strategy and Policy Department - is part of a larger effort in the department to better understand the costs and benefits of different measures for resolving financial crisies. The authors may be contacted at [email protected] or [email protected].
Financial Sector Crisis And Restructuring
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Author : Carl-Johan Lindgren
language : en
Publisher:
Release Date : 1999
Financial Sector Crisis And Restructuring written by Carl-Johan Lindgren and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.
An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.
The East Asian Crisis
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Author : Ms.Kalpana Kochhar
language : en
Publisher: International Monetary Fund
Release Date : 1998-09-01
The East Asian Crisis written by Ms.Kalpana Kochhar 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 1998-09-01 with Business & Economics categories.
This paper reviews macroeconomic developments during the first year of the crisis in east Asia and draws some preliminary policy lessons. The crisis is rooted in the interaction of large capital inflows and weak private and public sector governance. At the same time, macroeconomic adjustment in these countries has resulted in some surprising outcomes, including severe economic contractions, low inflation, and rapid external adjustment. The lessons for crisis resolution include the importance of tight monetary policy early on for exchange rate stabilization, flexible fiscal policy, and comprehensive structural reform. Crises are avoided by prudent macroeconomic policies, diligent bank supervision, transparent data dissemination, strong governance, and forward-looking policymaking, even in good times.
The Asia Crisis
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Author : Mr.Andrew Berg
language : en
Publisher: International Monetary Fund
Release Date : 1999-10-01
The Asia Crisis written by Mr.Andrew Berg 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 1999-10-01 with Business & Economics categories.
This paper tells the story of the Asian financial crisis by addressing four questions: What were the causes of the crisis, how did the crisis unfold, what were the policy responses, and what have been the outcomes? The paper takes the view that none of these questions can be understood without appreciating the fundamental vulnerabilities that left authorities without effective tools to counter sudden capital outflows. The pattern of output decline suggests that these vulnerabilities, particularly weaknesses in domestic financial systems, played a larger role than tight monetary policy in determining outcomes.
The East Asian Crisis
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Author : Warwick J. McKibbin
language : en
Publisher: World Bank Publications
Release Date : 1999
The East Asian Crisis written by Warwick J. McKibbin 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 1999 with Asia categories.
Destructive Creativity Of Wall Street And The East Asian Response
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Author :
language : en
Publisher:
Release Date :
Destructive Creativity Of Wall Street And The East Asian Response written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Destructive Creativity Of Wall St And The East Asian Response
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Author : Michael S. H. Heng
language : en
Publisher: World Scientific
Release Date : 2009
Destructive Creativity Of Wall St And The East Asian Response written by Michael S. H. Heng and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
The current financial crisis provides a valuable occasion for the world to re-examine the grand statements of wisdom which dominate the financial world for a long time. The impact is extremely serious as a result of the convergence of a number of factors such as huge current account deficits of the United States, globalization, deregulation, loose monetary policy, and excessive liquidity. This book seeks to address the critical issues in deregulation, derivatives, leveraging, remuneration systems, and rating agencies. This book will also examine Asia's response and why Asian economies have been less affected by the global financial crisis. Are corporate governance, culture, management styles or even a state-led model the main reasons? Would the Asian sovereign funds help to be the last line of defense against the excesses of the crisis? Is the US$80 billion Asian crisis fund envisaged as the first instance of a coordinated East Asian response to the crisis and would this truly underpin the creation of an East Asian regional order? This book reaffims the need for banks and financial institutions to provide value-adding services, exercise prudence and due diligence and pay due regard for societal interest.
Destructive Creativity Of Wall Street And The East Asian Response
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Author : Michael S. H. Heng
language : en
Publisher: World Scientific
Release Date : 2009
Destructive Creativity Of Wall Street And The East Asian Response written by Michael S. H. Heng and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
The current financial crisis provides a valuable occasion for the world to re-examine the grand statements of wisdom which dominate the financial world for a long time. The impact is extremely serious as a result of the convergence of a number of factors such as huge current account deficits of the United States, globalization, deregulation, loose monetary policy, and excessive liquidity. This book seeks to address the critical issues in deregulation, derivatives, leveraging, remuneration systems, and rating agencies. This book will also examine Asia''s response and why Asian economies have been less affected by the global financial crisis. Are corporate governance, culture, management styles or even a state-led model the main reasons? Would the Asian sovereign funds help to be the last line of defense against the excesses of the crisis? Is the US$80 billion Asian crisis fund envisaged as the first instance of a coordinated East Asian response to the crisis and would this truly underpin the creation of an East Asian regional order? This book reaffims the need for banks and financial institutions to provide value-adding services, exercise prudence and due diligence and pay due regard for societal interest.
Financial Markets And Policies In East Asia
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Author : Gordon De Brouwer
language : en
Publisher: Routledge
Release Date : 2003-09-02
Financial Markets And Policies In East Asia written by Gordon De Brouwer and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09-02 with Business & Economics categories.
While the financial crisis in East Asia could be said to be on the wane in some countries, the reconstruction process in the aftermath and the debate about the financial policies best suited to the region still rages on. This book examines both of these processes in authoritative detail. It includes critical assessment of: * the post-crisis state of financial markets * the banking and corporate restructuring process, with special focus on Indonesia * the policy debates currently going on in East Asia, including monetary policy; exchange rate systems and the scope for financial cooperation * East Asia's debt and equity markets The well-respected contributors including Claudio Borio, Hae Wang Chung, Guy Debelle, Reuven Glick, Robert McCauley and Eisuke Sakakibara, have produced a book that will be influential around the world.