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Systemic Financial Crises

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Systemic Financial Crises Synopsis

Faced with a systemic financial sector crisis, policymakers need to make difficult choices under pressure. Based on the experience of many countries in recent years, few have been able to achieve a speedy, lasting and low-cost resolution. This volume considers the strengths and weaknesses of the various policy options, covering both microeconomic (including recapitalization of banks, bank closures, subsidies for distressed borrowers, capital adequacy rules and corporate governance and bankruptcy law requirements) and macroeconomic (including monetary and fiscal policy) dimensions. The contributors explore the important but little understood trade-offs that are involved, such as between policies which take effect quickly, those which minimize long-term fiscal and economic costs, and those which create favorable incentives for future stability. Successfully implementing crisis management and crisis resolution policy required attention to detail and a good flow of information.

About This Edition

ISBN: 9781107407206
Publication date: 13th September 2012
Author: Patrick (The World Bank) Honohan
Publisher: Cambridge University Press
Format: Paperback
Pagination: 400 pages
Genres: Microeconomics
Political economy
Economic and financial crises and disasters