This paper stresses three factors that amplified the 1990s financial crisis in Ecuador, namely institutional weaknesses … respond in a timely manner and efficiently enough to prevent the escalation of the banking crisis and spurred the adoption of … deteriorating fiscal stance associated with the costs of the financial crisis. Financial dollarization increasingly reduced the …

This paper proposes that international rescue financing should not be provided to a country where a crisis first occurs …, but rather to any country that suffers a subsequent crisis. Such a timing-based lending facility can be Pareto-superior to … both laissez-faire and existing international crisis lending facilities, when domestic governments have more information on …

database covers the universe of systemic banking crises for the period 1970-2007, with detailed data on crisis containment and … resolution policies for 42 crisis episodes, and also includes data on the timing of currency crises and sovereign debt crises …. The database extends and builds on the Caprio, Klingebiel, Laeven, and Noguera (2005) banking crisis database, and is the …

The Asian financial crisis of 1997-98 was one of the most dramatic economic events of recent times, which raised many … questions regarding the appropriate policy response to financial crises. This paper reviews the experience of this crisis …, focusing on the overall strategy of crisis management and the way that strategy was implemented, including with regard to …

The recent financial crisis has shown how interconnected the financial world has become. Shocks in one location or … asset class can have a sizable impact on the stability of institutions and markets around the world. But systemic risk …

recent crisis in Argentina. Experience suggests that there is no quick or easy fix in the face of a wide-ranging crisis … important implications for the IMF’s work in assessing crisis vulnerabilities. IMF surveillance work has been strengthened and …

banking system. Do crisis response strategies that commit more fiscal resources lower the economic costs of crises? Based on … government budget are associated with worse, not better, post-crisis performance. We also show that parliamentary political …

learned during the Asian crisis, it updates the IMF’s work on the general principles, strategies, and techniques for …

nonperforming loans in the aftermath of the 1997-98 financial crisis. It argues that KAMCO's incentive to dispose of NPLs can be …