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Claessens, Stijn - 2018

The Great Financial Crisis of 2007-09 confirmed the vital importance of advancing our understanding of macrofinancial linkages, the two-way interactions between the real economy and the financial sector. The crisis was a bitter reminder of how sharp fluctuations in asset prices, credit and...

Persistent link: https://www.econbiz.de/10012929483

Corporate risk around the world

Claessens, Stijn; Djankov, Simeon; Nenova, Tatiana - Economics Research, World Bank Group - 2000

Weaknesses in the corporate sector have increasingly been cited as important factors in financial crises in both emerging markets and industrial countries. Analysts have pointed to weak corporate performance and risky financing patterns as major causes of the East Asian financial crisis. And...

Persistent link: https://www.econbiz.de/10005079732

The political economy of distress in East Asian financial institutions

Bongini, Paola; Claessens, Stijn; Ferri, Giovanni - Economics Research, World Bank Group - 2000

decisions for 186 banks and 97 non-bank financial institutions in Indonesia, the Republic of Korea, Malaysia, the Philippines … (smaller) non-bank financial institutions were more likely to be closed. This suggests a"too big to fail"policy. 5) These …

Persistent link: https://www.econbiz.de/10005079817

Conditionality and debt relief

Claessens, Stijn; Diwan, Ishac - Economics Research, World Bank Group - 1989

Six years into the debt crisis, questions about the relevance of policy measures to alleviate the crisis still abound. Conditionality by international financial institutions and rescheduling by commercial creditors have been dismissed in favor of debt reduction as strategies for restoring the...

Persistent link: https://www.econbiz.de/10005080076

Banking reform in transition countries

Claessens, Stijn - Economics Research, World Bank Group - 1996

banks entry. The causality direction is often unclear. Policies and structural conditions can affect bank quality. The role … reform existing state-owned banks (the rehabilitation approach) or whether a new private banking system should be allowed to … emerge (a new entry approach). Or should there be a mix of the two approaches, in which the state bank activities are …

Persistent link: https://www.econbiz.de/10005128431

Recent experience with commercial bank debt reduction

Claessens, Stijn; Diwan, Ishac; Fernandez-Arias, Eduardo - Economics Research, World Bank Group - 1992

The authors review the case for market-based debt reduction and concerted debt reduction. They explain the new menu-based approach to debt reduction and discuss why it may be preferred to market-based and concerted debt reduction. In a review of the five recent debt-reduction agreements, they...

Persistent link: https://www.econbiz.de/10005128563

The optimal currency composition of external debt

Claessens, Stijn - Economics Research, World Bank Group - 1988

The increased volatility of exchange rates, interest rates and goods prices has focused fresh attention on the importance for developing countries of reducing their risks in these markets. Although, these countries generally cannotuse such conventional hedging instruments as currency and...

Persistent link: https://www.econbiz.de/10005128738

Current challenges in financial regulation

Claessens, Stijn - Economics Research, World Bank Group - 2006

outlines a number of areas of current debate: the special role of banks, competition policy, consumer protection, harmonization …

Persistent link: https://www.econbiz.de/10005128763

What drives bank competition? some international evidence

Claessens, Stijn; Laeven, Luc - Economics Research, World Bank Group - 2003

Using bank-level data, the authors apply the Panzar and Rosse (1987) methodology to estimate the extent to which … changes in input prices are reflected in revenues earned by specific banks in 50 countries'banking systems. They then relate … systems with greater foreign bank entry and fewer entry and activity restrictions to be more competitive. They find no …

Persistent link: https://www.econbiz.de/10005128786

Corporate growth, financing, and risks in the decade before East Asia's financial crisis

Claessens, Stijn; Djankov, Simeon; Lang, Larry - Economics Research, World Bank Group - 1998

East Asia's financial crisis has been attributed in part to the weak performance and risky financial structures of Asian corporations. In the period before Asia's financial crisis, however, analysts were not suggesting that the financial structure of many East Asian corporations would be unable...

Persistent link: https://www.econbiz.de/10005129318