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Government Involvement in Corporate Debt Restructuring; Case Studies From the Great Recession

Grigorian, David A.; Raei, Faezeh - International Monetary Fund (IMF) - 2010

The paper examines recent episodes of government involvement in corporate debt restructurings. It argues that corporate debt restructuring is an important step toward recovery from a financial crisis. We then discuss the rationale for, and modalities of, the state intervention in corporate debt...

Persistent link: https://www.econbiz.de/10008727803

How Tight is too Tight? a Look At Welfare Implications of Distortionary Policies in Uzbekistan

Grigorian, David A.; Gemayel, Edward R. - International Monetary Fund (IMF) - 2005

Since independence in 1991, Uzbekistan has pursued a gradual approach to the transition from planned to market economy. This approach relied heavily on trade controls, directed credit, and large public investments. A number of financial sector measures were also instituted that distorted...

Persistent link: https://www.econbiz.de/10005825665

Crisis in Competitive Versus Monopolistic Banking Systems

Smith, Bruce D.; Nicoló, Gianni De; Boyd, John H. - International Monetary Fund (IMF) - 2003

risk-averse depositors. A "banking crisis" is defined as a case in which banks exhaust their reserve assets. Under … different model specifications, the banking industry is either a monopoly bank or a competitive banking industry. If the nominal … rate of interest (rate of inflation) is below (above) some threshold, a monopolistic banking system will always result in a …

Persistent link: https://www.econbiz.de/10005826156

Banking Crises and Crisis Dating; Theory and Evidence

Loukoianova, Elena; Nicoló, Gianni De; Boyd, John H. - International Monetary Fund (IMF) - 2009

Many empirical studies of banking crises have employed "banking crisis" (BC) indicators constructedusing primarily … information on government actions undertaken in response to bank distress. Weformulate a simple theoretical model of a banking …

Persistent link: https://www.econbiz.de/10008528706

A Cross-Country Non-Parametric Analysis of Bahrain's Banking Sector

Manole, Vlad; Grigorian, David A. - International Monetary Fund (IMF) - 2005

Bahrain's financial sector development strategy succeeded in building a leading regional banking center, which has … that the banking sector in Bahrain continues to occupy a front-runner position among those in a sample of member countries …

Persistent link: https://www.econbiz.de/10005599768

Bank Risk-Taking and Competition Revisited; New Theory and New Evidence

Nicoló, Gianni De; Jalal, Abu M.; Boyd, John H. - International Monetary Fund (IMF) - 2006

This paper studies two new models in which banks face a non-trivial asset allocation decision. The first model (CVH) predicts a negative relationship between banks' risk of failure and concentration, indicating a trade-off between competition and stability. The second model (BDN) predicts a...

Persistent link: https://www.econbiz.de/10005605287