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Distributional effects of crises : the role of financial transfers

Halac, Marina; Schmukler, Sergio - Economics Research, World Bank Group - 2003

Financial crises affect income distribution by way of different channels. The authors argue that financial transfers are an important channel which has been overlooked by the literature. They study the role of financial transfers by analyzing some of the most severe Latin American crises during...

Persistent link: https://www.econbiz.de/10005079564

Crisis and contagion in East Asia : nine lessons

Kawai, Masahiro; Newfarmer, Richard; Schmukler, Sergio - Economics Research, World Bank Group - 2001

The authors investigate the origins of the East Asian crisis and its contagion, examine the channels of contagion, and discuss policy recommendationsThey make detailed recommendations in the context of nine general lessons learned from the East Asian crisis. 1) Preventing crises and contagion:...

Persistent link: https://www.econbiz.de/10005079883

Predicting currency fluctuations and crises - do resident firms have an informational advantage?

Kaufmann, Daniel; Mehrez, Gil; Schmukler, Sergio - Economics Research, World Bank Group - 1999

The authors investigate whether resident enterprise managers have an informational advantage about the countries in which they work. They propose a method for extracting information available to resident managers but unknown to investors and forecasters. They rest their hypothesis of...

Persistent link: https://www.econbiz.de/10005080040

Decentralized credtor-led corporate restructuring - cross-country experience

Dado, Marinela E.; Klingebiel, Daniela - Economics Research, World Bank Group - 2002

Countries that have experienced banking crises have adopted oneof two distinct approaches toward the resolution of non-performing assets-a centralized or a decentralized solution. A centralized approach entails setting up a government agency-an asset management company-with the full...

Persistent link: https://www.econbiz.de/10004989719

Managers, investors, and crises : mutual fund strategies in emerging markets

Kaminsky, Graciela; Lyons, Richard; Schmukler, Sergio - Economics Research, World Bank Group - 2000

The authors address the trading strategies of mutual funds in emerging markets. The data set they develop permits analyses of these strategies at the level of individual portfolios. A methodologically novel feature of their analysis: they disentangle the behavior of fund managers from that of...

Persistent link: https://www.econbiz.de/10005128513

Emerging markets instability: do sovereign ratings affect country risk and stock returns?

Kaminsky, Graciela; Schmukler, Sergio - Economics Research, World Bank Group - 2001

Financial market instability has been the focus of attention of both academic and policy circles. Rating agencies have been under particular scrutiny lately as promoters of financial excesses, upgrading countries in good times and downgrading them in bad times. Using a panel of emerging...

Persistent link: https://www.econbiz.de/10005128745

Controlling the fiscal costs of banking crises

Honohan, Patrick; Klingebiel, Daniela - Economics Research, World Bank Group - 2000

In recent decades, a majority of countries have experienced a systemic banking crisis requiring a major-and expensive-overhaul of their banking system. Not only do banking crises hit the budget with outlays that must be absorbed by higher taxes (or spending cuts), but they are costly in terms of...

Persistent link: https://www.econbiz.de/10005133422

The use of asset management companies in the resolution of banking crises - cross-country experience

Klingebiel, Daniela - Economics Research, World Bank Group - 2000

management companies for corporate restructuring did not achieve their narrow goal of expediting bank or corporate restructuring …

Persistent link: https://www.econbiz.de/10005133578

Mutual fund investment in emerging markets - an overview

Kaminsky, Graciela; Lyons, Richard; Schmukler, Sergio - Economics Research, World Bank Group - 2001

International mutual funds are one of the main channels for capital flows to emerging economies. Although mutual funds have become important contributors to financial market integration, little is known about their investment allocation, and strategies. The authors provide an overview of mutual...

Persistent link: https://www.econbiz.de/10005133623

Bank insolvencies : cross-country experience

Caprio, Gerard Jr.; Klingebiel, Daniela - Economics Research, World Bank Group - 1996

Few areas of the world have escaped significant losses from episodes of bank insolvency. Bank insolvency is more costly … in the developing world, where losses represent a greater share of income. The authors present data on bank insolvency … insights are presented in seven tables on: a) major bank insolvencies episodes and systemic banking crises; b) main …

Persistent link: https://www.econbiz.de/10005133878