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Bank Crises: Causes, Analysis and Prevention Vol: 10

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19 Jan 1999
Emerald Group Publishing Limited
336 pages - 156 x 234 x 19mm
Research in Financial Services: Private and Public Policy


The papers in this volume were presented at three invited sessions at the annual meeting of the Western Economic Association in Lake Tahoe, Nevada on June 30 and July 1, 1998. The comments of the speaker at each of these sessions are also included. The papers focus on the widespread banking and financial crises that have plagued many countries worldwide. A study by the International Monetary Fund (Lindgren, Garcia, & Saal, 1996) reported that banking crises had been experienced by nearly three-quarters of its 180-plus member countries since 1980. And this was before the current problems in Korea and Southeast Asia. Only the African continent, where banking systems are generally quite primitive, appears to have been unaffected. The papers in this volume amplify on the evidence in this area for additional countries; expand the earlier analyses; describe, discuss, and evaluate alternative procedures for resolving bank insolvencies and recapitalizing the banking system, and suggest ways of maintaining bank solvency and preventing reoccurrences of these costly crises. The papers are timely, add considerably to our storehouse of knowledge, and are likely to be of particular value to policy makers, bankers, and fellow researchers.
Introduction (G.G. Kaufman). PART I: Banking on Crises: Expensive Lessons (G. Caprio, Jr.). Current experiences in Southeast Asia (G. Garcia). The political economy of banking and financial regulatory reform in emerging markets (R.S. Kroszner). Czech banking reform: what went wrong and why? (T.S. Mondschean). Comment (P.M. Horvitz). PART II: Financial Fragility: Theories and Empirical Evidence (H.A. Benink). Korea and Japan: the end of the "Japanese Financial Regime," (T.F. Cargill). Bank relations and the perception of a bank crisis - A case study of Italy (P.M. Reedtz). Asian banking crises in the 1990s: all alike? (A.J. Schwartz). Comment (D. Evanoff). PART III: The Role of Governments and Markets in International Banking Crises: The Case of East Asia (J. Barth et al.). An examination of bank regulators' decisions to fail banks: an international perspective (P.F. Bartholomew, B.E. Gup). Does the publication of supervisory enforcement actions add to Market discipline (R.A. Gilbert, M.D. Vaughan). Central banks, asset bubbles, and financial stability (G.G. Kaufman). Comment (R. Nelson).

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