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Case for an International Banking Standard, The

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  • Morris Goldstein

    (Peterson Institute for International Economics)

Abstract

This study presents the case for an international banking standard (IBS) to deal with the rash of banking crises in developing countries. Over the past 15 years, almost three-fourths of the IMF's member countries have experienced at least one serious bout of banking problems; there have been at least a dozen developing country episodes where the costs of these crises amounted to 10 percent or more of the country's GDP; and the total public sector resolution costs of developing-country banking crises have been estimated to be $250 billion. Not only are these banking crises extremely costly to developing countries, they also pose increased risk to industrial countries. * The author demonstrates that existing international agreements do not address the main sources of these crises, and the adoption of a voluntary IBS offers a more attractive route to banking reform than the relevant alternatives. The study recommends minimum standards in eight key areas of banking supervision and addresses the operational issues associated with the design and implementation of an IBS.

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Bibliographic Info

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This book is provided by Peterson Institute for International Economics in its series Peterson Institute Press: Policy Analyses in International Economics with number pa47 and published in 1997.

ISBN: 978-0-88132-244-6
Handle: RePEc:iie:piiepa:pa47

Note: Policy Analyses in International Economics 47
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Cited by:
  1. Kris James Mitchener, 2006. "Are Prudential Supervision and Regulation Pillars of Financial Stability? Evidence from the Great Depression," NBER Working Papers 12074, National Bureau of Economic Research, Inc.
  2. Takatoshi Ito, 2000. "Capital Flows in Asia," NBER Chapters, in: Capital Flows and the Emerging Economies: Theory, Evidence, and Controversies, pages 255-296 National Bureau of Economic Research, Inc.
  3. Robert E. Litan, 1997. "Institutions and policies for maintaining financial stability," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 257-297.
  4. Reinhart, Carmen & Kaminsky, Graciela & Goldstein, Morris, 2000. "Notes on contagion," MPRA Paper 24569, University Library of Munich, Germany.
  5. Daoud Barkat Daoud, 2003. "Quelle réglementation du capital bancaire pour les pays en développement ?," Revue d'Économie Financière, Programme National Persée, vol. 73(4), pages 311-323.
  6. Michel Aglietta, 2000. "The International Monetary Fund and the International Financial Architecture," Working Papers 2000-08, CEPII research center.
  7. Barry Eichengreen & Andrew K. Rose, 1998. "Staying Afloat When the Wind Shifts: External Factors and Emerging-Market Banking Crises," NBER Working Papers 6370, National Bureau of Economic Research, Inc.
  8. Morris Goldstein, 1997. "The causes and propagation of financial instability : lessons for policymakers, commentary," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 97-116.
  9. Sunil Sharma & Ralph Chami & Mohsin S. Khan, 2003. "Emerging Issues in Banking Regulation," IMF Working Papers 03/101, International Monetary Fund.
  10. John Pattison, 2006. "International Financial Cooperation and the Number of Adherents: The Basel Committee and Capital Regulation," Open Economies Review, Springer, vol. 17(4), pages 443-458, December.
  11. Niinimaki, J.-P., 2007. "Evergreening in banking," Journal of Financial Stability, Elsevier, vol. 3(4), pages 368-393, December.
  12. Kenneth Rogoff, 1999. "International Institutions for Reducing Global Financial Instability," Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 21-42, Fall.
  13. Stanley Fischer, 1997. "Why is financial stability a goal of public policy? (commentary)," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 37-45.
  14. Mohsin S. Khan, 2002. "New Issues in Bank Regulation," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 41(4), pages 333-356.
  15. Morris Goldstein, 2000. "Strengthening the International Financial Architecture: Where Do We Stand?," Working Paper Series WP00-8, Peterson Institute for International Economics.
  16. Barry Eichengreen, 2009. "From the Asian crisis to the global credit crisis: reforming the international financial architecture redux," International Economics and Economic Policy, Springer, vol. 6(1), pages 1-22, June.
  17. Frederic S. Mishkin & Andrew Crockett & Michael P. Dooley & Montek S. Ahluwalia, 2003. "Financial Policies," NBER Chapters, in: Economic and Financial Crises in Emerging Market Economies, pages 93-154 National Bureau of Economic Research, Inc.
  18. Anandarajan , Asokan & Hasan , Iftekhar & McCarthy , Cornelia, 2006. "The use of loan loss provisions for capital management, earnings management and signalling by Australian banks," Research Discussion Papers 23/2006, Bank of Finland.

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