Financial sector inefficiencies and coordination failures : implications for crisis management

Pierre-Richard Agénor, Joshua Aizenman

In a country where financial intermediation is highly inefficient (with the enforcement costs of loan contracts very high, for example), or in one experiencing great volatility and large adverse shocks in output, the likelihood of an inefficient equilibrium is great. In East Asia it may be in the interests of both debtors and creditors to collectively reduce the face value of debt, to reduce inefficiencies in the financial sector

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Year of publication:	[1999]
Authors:	Agénor, Pierre-Richard
Other Persons:	Aizenman, Joshua (contributor)
Institutions:	World Bank Institute / Economic Policy and Poverty Reduction (contributor)
Publisher:	Washington, DC : World Bank, World Bank Institute, Economic Policy and Poverty Reduction
Subject:	Theorie \| Theory \| Finanzkrise \| Financial crisis \| Finanzintermediation \| Financial intermediation \| Verbindlichkeiten \| Corporate debt

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Extent:	Online-Ressource (20, [3] p) ill 28 cm
Series:	Policy research working paper ; 2185
Type of publication:	Book / Working Paper
Language:	English
Notes:	"September 1999 Cover title Includes bibliographical references (p. 19-20) Also available in print.
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10010524652