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Google圖書搜尋
Financial Restructuring in Banking and Corporate Sector Crises
Stijn Claessens
Daniela Klingebiel
Luc Laeven
其他書名
What Policies to Pursue?
出版
National Bureau of Economic Research
, 2001
URL
http://books.google.com.hk/books?id=60myAAAAIAAJ&hl=&source=gbs_api
註釋
We review the literature on resolving bank and corporate sector crises to identify government policies that affect the depth of a crisis and the ease and sustainability of recovery, and to analyze their fiscal cost. A consistent framework - including sufficient resources for loss-absorption and private agents facing the right framework of sticks and carrots - is the, although often missing key to successful bank and corporate restructuring. Sustainability of restructuring calls for deeper structural reforms, which often requires dealing with political economy factors up-front. Using data for 687 corporations from eight crisis countries, we find empirically that a package of specific resolution measures can help accelerate the recovery from a crisis. These policies, however, come with significant fiscal costs.
