The first savings and loan associations (SLAs - mutuelles d'epargne et de credit) were established in Madagascar in 1993 under a pilot project supported by the World Bank. By the time the project closed in December 1997, 54 SLAs had been established in four regions, Toamasina, Lac Alaotra,...

"There is a wide cross-country variation in the institutional structure of bank failure resolution, including the role of the deposit insurer. The authors use quantitative analysis for 57 countries and discuss specific country cases to illustrate this variation. Using data for over 1,700 banks...

"Claessens, Klingebiel, and Laeven 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'...