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Persistent link: https://www.econbiz.de/10004998593
Entscheidungsfreiheit («economic freedom») ausüben. Die Analyse beruht einerseits auf einer Fallstudie der skandinavischen Bankenkrise der … Ergebnisse deuten darauf hin, dass im Nachgang zu einer Banken- bzw. Finanzkrise der Grad der Wirtschaftsfreiheit auf kürzere … Frist abnimmt, längerfristig aber eher ansteigt. Demgegenüber führt eine Wirtschaftskrise, d.h. eine hohe «Produktionslücke …
Persistent link: https://www.econbiz.de/10010685131
This paper provides the most comprehensive empirical study of the effectiveness of macroprudential instruments to date. Using data from 49 countries, the paper evaluates the effectiveness of macroprudential instruments in reducing systemic risk over time and across institutions and markets. The...
Persistent link: https://www.econbiz.de/10009369434
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
It has been several decades since I served as an Enforcement Director at the SEC, however, the recent turmoil in the financial markets that led to a worldwide recession bear an uncanny resemblance to events in times long gone. The unchecked excesses of bankers and corporate executives today are...
Persistent link: https://www.econbiz.de/10010669455
This study looks at the first two years of the banking crisis that erupted in Indonesia in late 1997. It finds that the banking sector was weak at the outset, and that governance problems intensified the crisis and seriously delayed its resolution. Although a strategy was put in place over the...
Persistent link: https://www.econbiz.de/10005826629
This paper stresses three factors that amplified the 1990s financial crisis in Ecuador, namely institutional weaknesses, rigidities in public finances, and high financial dollarization. Institutional factors restricted the government's ability to respond in a timely manner and efficiently enough...
Persistent link: https://www.econbiz.de/10005769178
increasingly financially integrated world. …
Persistent link: https://www.econbiz.de/10008519478
During the ongoing financial crisis the analysis of similar historical crises has gained more and more attention among economic researchers and forecasters. Existing studies, however, do not tackle the immense heterogeneity that is present in cross-country samples in a formal and consistent way....
Persistent link: https://www.econbiz.de/10005012878
While deregulated financial markets and strong competition are commonly viewed as prerequisites for successful economic development, recent empirical evidence suggests that financial liberalization, if not well phased, can lead to costly financial crises. This paper focuses on the roles of...
Persistent link: https://www.econbiz.de/10005599275