A taxonomy of financial crisis resolution mechanisms : cross-country experience / Charles Calomiris, Daniela Klingebiel, and Luc Laeven.
Material type:
TextSeries: Policy research working papers ; no. 3379Publication details: Washington, D. C : World Bank, 2004.Description: 74p ; 27 cmSubject(s):
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Main Campus Library | University of Eastern Africa, Baraton | Spc HG 3881.5 .W57 no. 3379 (Browse shelf(Opens below)) | Available | 56785 |
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| Spc HG 3881.5 .W57 no.3376 What triggers inflation in emerging market economies? / | Spc HG 3881.5 .W57 no. 3377 Resolving systematic financial crises : | Spc HG 3881.5 .W57 no.3378 Pro-growth, pro-poor : | Spc HG 3881.5 .W57 no. 3379 A taxonomy of financial crisis resolution mechanisms : | Spc HG 3881.5 .W57 no. 3381 Genetically modified rice adoption : | Spc HG 3881.5 .W57 no. 3381 Measuring the international mobility of skilled workers (1990-2000) : | Spc HG 3881.5 .W57 no.3382 Skilled migration : |
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"The goals of financial restructuring are to reestablish the creditor-debtor relationships on which the economy depends for an efficient allocation of capital, and accomplish that objective at minimal cost. Costs include direct costs to taxpayers of financial assistance and the indirect costs to the economy that result from misapplications of capital and incentive problems resulting from the restructuring. Calomiris, Klingebiel and Laeven review cases in which countries used alternative mechanisms to restructure their financial and corporate sectors. Countries typically apply a combination of tools, in clung decentralized, market-based mechanisms, and government-managed programs. Marketbased strategies seek to strengthen the capital base of financial institutions and borrowers to enable them to renegotiate debt and resume new credit supply. Government-led restructuring strategies
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