The papers in this volume were presented at three invited sessions at the annual meetings of the Western Economic Association in San Diego, California on July 8-10, 1999. The comments by delegates were also presented at that time and are included in the volume. The theme of the sessions was "Bank Problems: A Global Perspective." As has been well documented in previous volumes in this series, serious banking problems have plagued the large majority of countries globally be they industrial, emerging or transition economies. The problems arose because of both market failures and regulatory or...
The papers in this volume were presented at three invited sessions at the annual meetings of the Western Economic Association in San Diego, California...
George G. Kaufman Thomas H. Krueger William C. Hunter
In the late 1990s, Korea, Thailand, Indonesia and Malaysia experienced a series of major financial crises evinced by widespread bank insolvencies and currency depreciations, as well as sharp declines in gross domestic production. This sudden disruption of the Asian economic miracle' astounded many observers around the world, raised questions about the stability of the international financial system and caused widespread fear that this financial crisis would spread to other countries. What has been called the Asian crisis followed a prolonged slump in Japan dating from the early 1980s and came...
In the late 1990s, Korea, Thailand, Indonesia and Malaysia experienced a series of major financial crises evinced by widespread bank insolvencies and ...
In light of the periodic malfunctions in important sectors of the finan cial services industry in recent years, such as commercial banking, thrift institutions, and the securities market, numerous proposals have been developed for restructuring the financial system to improve both its safety and efficiency. Among the groups analyzing the performance of the financial system and recommending changes where necessary, has been the Shadow Financial Regulatory Committee. This Committee, which is described in greater detail in Chapter 1, consists of 12 independent banking experts from the academic...
In light of the periodic malfunctions in important sectors of the finan cial services industry in recent years, such as commercial banking, thrift ins...
This volume focuses on constructing a safer and more efficient financial system based on the lessons learned from the financial debacles of the 1980s. The first essay discusses the economic and political forces both propelling and opposing widespread banking reform. The next two essays describe the intellectual history of the deposit insurance reform provisions of FDICIA, arguably the most important banking legislation since the Banking Act of 1933, discuss the weaknesses and strengths of these provisions and make recommendations for improving the effectiveness of the reforms. Theoretical and...
This volume focuses on constructing a safer and more efficient financial system based on the lessons learned from the financial debacles of the 1980s....
The last decade has been both traumatic and revolutionary for the U.S. banking industry. In late 1990 and early 1991, the outlook for the banking industry and even the federal insurance fund that backs most of its deposits looked especially bleak. Several independent analysts, congressional watchdog agencies, and the federal government itself warned that the large number and size of bank failures would exhaust the resources of the Federal Deposit Insurance Corporation for resolving bank failures and paying off their depositors.
Amid extensive proposals for deposit insurance reform,...
The last decade has been both traumatic and revolutionary for the U.S. banking industry. In late 1990 and early 1991, the outlook for the banking i...
Bank failures are almost a certainty at some time in the future. What is less certain is their cost to and adverse implications for macro-economies. This book reviews past insolvency resolutions, draws lessons from these resolutions, discusses impediments to efficient resolutions and recommends how to move forward.
Bank failures are almost a certainty at some time in the future. What is less certain is their cost to and adverse implications for macro-economies. T...
Cross-border banking, while having the potential for a more efficient financial sector, also creates potential challenges for bank supervisors and regulators. It requires cooperation by regulatory authorities across jurisdictions and a clear delineation of authority and responsibility. That delineation is typically not present and regulatory authorities often have significantly different incentives to respond when cross-border-active banks encounter difficulties. Most of these issues have only begun to be seriously evaluated. This volume, one of the first attempts to address these issues,...
Cross-border banking, while having the potential for a more efficient financial sector, also creates potential challenges for bank supervisors and reg...
This book isa collection of research papers that contribute to the understanding of ongoing developments in financial institutions and markets both in the United States and globally.
This book isa collection of research papers that contribute to the understanding of ongoing developments in financial institutions and markets both in...
This book is a collection of research papers that contribute to the understanding of ongoing developments in financial institutions and markets both in the United States and globally.
This book is a collection of research papers that contribute to the understanding of ongoing developments in financial institutions and markets both i...
Since the summer of 2007, credit markets in almost all industrial countries have been in substantial turmoil and this has become the focus of intense policy debates. The papers in this volume are contributed by the world's leading financial experts and constitute a thorough examination of the first credit market turmoil of the 21st Century. They provide an overview of the main causes, transmission mechanisms and economic implications of what by now has become a major systemic financial crisis. They assess the most important policy considerations and conclude about how to stabilize financial...
Since the summer of 2007, credit markets in almost all industrial countries have been in substantial turmoil and this has become the focus of intense ...
