TY  - BOOK
AU  - Calomiris,Charles W.
AU  - Klingebiel,Daniela jtauthor
AU  - Laeven,Luc,joint author
ED  - World Bank.
TI  - A taxonomy of financial crisis resolution mechanisms: cross-country experience 
PY  - 2004///
CY  - Washington, D. C
PB  - World Bank
KW  - Financial crises
KW  - Case studies
KW  - Finance, Public
KW  - Privatization
N1  - Also available online; "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; Includes bibliographical references; Open access
ER  -