Bank Restructuring in Post-Crisis Asia
AbstractWe assess the quantitative effects of the 1997-98 banking crisis in Asia at both the macroeconomic and bank levels, comparing our findings to broader studies of banking crises. Asia's crisis was both more severe and more costly than others but showed little evidence of prolonged bank runs. We assess the nature of reforms using measures designed to address externalities or market structure, information asymmetries, and legal infrastructure. We compare these measures to results from Barth, Caprio, and Levine (2000) with respect to the effects of banking structure and regulation on financial development, finding that reforms to date have underemphasized private monitoring and have concentrated too many assets in state-owned institutions. Despite extensive efforts at broadening legal infrastructure, progress has been poor, especially in Indonesia and Thailand. Copyright (c) 2002 Center for International Development and the Massachusetts Institute of Technology.
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Bibliographic InfoArticle provided by MIT Press in its journal Asian Economic Papers.
Volume (Year): 1 (2002)
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- Daniel Kapp & Marco Vega, 2012.
"Real Output Costs of Financial Crises: A Loss Distribution Approach,"
1201.0967, arXiv.org, revised May 2012.
- Daniel Kapp & Marco Vega, 2014. "Real output costs of financial crises: A loss distribution approach," Cuadernos de Economía - Spanish Journal of Economics and Finance, ELSEVIER, vol. 37(103), pages 13-28, Abril.
- Kapp, Daniel & Vega, Marco, 2012. "Real output costs of financial crises: a loss distribution approach," MPRA Paper 35706, University Library of Munich, Germany.
- Daniel Kapp & Marco Vega, 2012. "Real Output Costs of Financial Crises: a Loss Distribution Approach," Documentos de Trabajo 2012-332, Departamento de Economía - Pontificia Universidad Católica del Perú.
- Kapp, Daniel & Vega, Marco, 2012. "The Real Output Costs of Financial Crisis: A Loss Distribution Approach," Working Papers 2012-013, Banco Central de Reserva del Perú.
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