Publication:
Resolving Systemic Financial Crisis: Policies and Institutions

Simple item page
dc.contributor.authorClaessens, Constantijn A.
dc.contributor.authorKlingebiel, Daniela
dc.contributor.authorLaeven, Luc
dc.date.accessioned2013-06-24T17:41:11Z
dc.date.available2013-06-24T17:41:11Z
dc.date.issued2004-08
dc.description.abstractThe authors 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.en
dc.identifierhttp://documents.worldbank.org/curated/en/2004/08/5104607/resolving-systemic-financial-crisis-policies-institutions
dc.identifier.doi10.1596/1813-9450-3377
dc.identifier.urihttps://hdl.handle.net/10986/14149
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, D.C.
dc.relation.ispartofseriesPolicy Research Working Paper;No.3377
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectADVERSE EFFECTS
dc.subjectASSET BUBBLES
dc.subjectASSET PRICES
dc.subjectBAILOUT COSTS
dc.subjectBALANCE SHEETS
dc.subjectBANK CREDIT
dc.subjectBANKING CRISIS
dc.subjectBANKING SECTOR
dc.subjectBANKING SYSTEM
dc.subjectBANKING SYSTEMS
dc.subjectBANKRUPTCY
dc.subjectBLANKET DEPOSIT GUARANTEES
dc.subjectCAPITAL FLOWS
dc.subjectCENTRAL BANKS
dc.subjectCLEARING SYSTEMS
dc.subjectCONTAINMENT PHASE
dc.subjectCREDIBILITY
dc.subjectCREDIT BOOMS
dc.subjectCREDITOR
dc.subjectCURRENCY
dc.subjectCURRENCY CRISES
dc.subjectDEBT OVERHANG
dc.subjectDEBT RELIEF
dc.subjectDEPOSIT INSURANCE
dc.subjectDEPOSITORS
dc.subjectDEPOSITS
dc.subjectEARNINGS
dc.subjectECONOMIC COSTS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC OUTLOOK
dc.subjectECONOMIC RECOVERY
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKETS
dc.subjectEMPIRICAL ANALYSES
dc.subjectEMPIRICAL ANALYSIS
dc.subjectEXTERNAL FINANCE
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL DISTRESS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL RESTRUCTURING
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SECTOR DEVELOPMENT
dc.subjectFINANCIAL SECTOR RESTRUCTURING
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIAL SYSTEMS
dc.subjectFISCAL COST
dc.subjectFISCAL COSTS
dc.subjectFOREIGN CURRENCY
dc.subjectGOVERNMENT GUARANTEES
dc.subjectINFLATION
dc.subjectINSOLVENCY
dc.subjectINSTITUTIONAL DEVELOPMENT
dc.subjectINSTITUTIONAL ENVIRONMENT
dc.subjectINSTITUTIONAL FRAMEWORK
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL LIQUIDITY
dc.titleResolving Systemic Financial Crisis: Policies and Institutionsen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.crossref.titleResolving Systemic Financial Crises: Policies and Institutions
okr.date.doiregistration2025-04-10T09:32:43.845306Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2004/08/5104607/resolving-systemic-financial-crisis-policies-institutions
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.guid306631468780599186
okr.identifier.doi10.1596/1813-9450-3377
okr.identifier.externaldocumentum000160016_20040907154538
okr.identifier.internaldocumentum5104607
okr.identifier.reportWPS3377
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2004/09/07/000160016_20040907154538/Rendered/PDF/wps3377.pdfen
okr.topicBanks and Banking Reform
okr.topicMacroeconomics and Economic Growth::Economic Conditions and Volatility
okr.topicSocial Protections and Labor::Labor Policies
okr.topicPayment Systems and Infrastructure
okr.topicGovernance::National Governance
okr.topicFinancial Crisis Management and Restructuring
okr.topicFiscal and Monetary Policy
okr.topicGovernance::Governance Indicators
okr.topicFinance and Financial Sector Development
okr.unitOff of Sr VP Dev Econ/Chief Econ (DECVP)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
Files
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
wps3377.pdf
Size:
208.18 KB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
wps3377.txt
Size:
86.61 KB
Format:
Plain Text
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
Collections
Policy Research Working Papers