Publication:
Corporate Distress in East Asia : The Effect of Currency and Interest Rate Shocks

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dc.contributor.authorClaessens, Stijn
dc.contributor.authorDjankov, Simeon
dc.contributor.authorFerri, Giovanni
dc.date.accessioned2012-08-13T15:14:17Z
dc.date.available2012-08-13T15:14:17Z
dc.date.issued1999-01
dc.description.abstractA study of the five countries most affected by the East Asian financial crisis - Indonesia, the Republic of Korea, Malaysia, the Philippines, and Thailand -- shows that more than 60 percent of firms are illiquid and 30 percent are technically insolvent. Among solvent firms, about half are at risk of insolvency unless their liquidity constraints are relieved. Worst affected is Indonesia, with 77 percent of firms illiquid and 65 percent insolvent, followed by Korea and Thailand. Extrapolations using these findings suggest that non-performing loans in the five countries could amount to 7 to 30 percent of Gross Domestic Product (GDP) and non-performing assets to more than a third of their combined GDP.en
dc.identifierhttp://documents.worldbank.org/curated/en/1999/01/441523/corporate-distress-east-asia-effect-currency-interest-rate-shocks
dc.identifier.doi10.1596/11500
dc.identifier.urihttps://hdl.handle.net/10986/11500
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesViewpoint: Public Policy for the Private Sector; Note No. 172
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectASSETS
dc.subjectBALANCE SHEET
dc.subjectBALANCE SHEETS
dc.subjectBANK FOR INTERNATIONAL SETTLEMENTS
dc.subjectBANK LENDING
dc.subjectBENCHMARK
dc.subjectBONDS
dc.subjectBORROWING
dc.subjectCENTRAL BANK
dc.subjectCORPORATE DEBT
dc.subjectDEBT
dc.subjectDEBT SERVICE
dc.subjectDEBT TO EQUITY RATIO
dc.subjectDEBT TO EQUITY RATIOS
dc.subjectDEVALUATION
dc.subjectDOMESTIC DEBT
dc.subjectECONOMICS
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL SECTOR
dc.subjectFOREIGN EXCHANGE
dc.subjectGDP
dc.subjectILLIQUIDITY
dc.subjectINSOLVENCY
dc.subjectINSURANCE
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectLENDING RATES
dc.subjectLIQUIDITY
dc.subjectMARKET INSTRUMENTS
dc.subjectNONBANK FINANCIAL INSTITUTIONS
dc.subjectNONPERFORMING LOANS
dc.subjectPROFITABILITY
dc.subjectSOLVENCY
dc.subjectSTOCK EXCHANGES
dc.subjectTREASURY BONDS
dc.subjectWORKING CAPITAL CURRENCY FLUCTUATION
dc.subjectINTEREST RATES
dc.subjectFINANCIAL CRISES
dc.subjectLIQUIDITY
dc.subjectINSOLVENCY
dc.subjectDEBT-EQUITY RATIO
dc.subjectCORPORATE PERFORMANCE
dc.subjectCORPORATE PROFITS
dc.subjectGROSS DOMESTIC PRODUCT
dc.titleCorporate Distress in East Asia : The Effect of Currency and Interest Rate Shocksen
dspace.entity.typePublication
okr.date.doiregistration2025-04-29T10:06:12.059929Z
okr.doctypePublications & Research::Viewpoint
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/1999/01/441523/corporate-distress-east-asia-effect-currency-interest-rate-shocks
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeEnvironment and Natural Resources
okr.globalpracticeFinance and Markets
okr.guid677991468759283666
okr.identifier.externaldocumentum090224b0854ed199_2_0
okr.identifier.internaldocumentum441523
okr.identifier.report19058
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/1999/08/15/000094946_99033105561760/Rendered/PDF/multi_page.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryIndonesia
okr.region.countryThailand
okr.region.countryMalaysia
okr.region.countryPhilippines
okr.region.countryKorea, Republic of
okr.region.countryTaiwan, China
okr.region.countryChina
okr.sectorFinance
okr.topicFinance and Financial Sector Development::Financial Intermediation
okr.topicFinance and Financial Sector Development::Strategic Debt Management
okr.topicBanks and Banking Reform
okr.topicEconomic Theory and Research
okr.topicEnvironmental Economics and Policies
okr.topicMacroeconomics and Economic Growth
okr.topicEnvironment
okr.unitFin & Private Sector Develop VP
okr.volume1 of 1
relation.isSeriesOfPublication1067ecbf-b217-4376-a77e-64594be2b212
relation.isSeriesOfPublication.latestForDiscovery1067ecbf-b217-4376-a77e-64594be2b212
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