Banking Crises and Bank Resolution: Experiences in Some Transition Economies
AbstractLike most transition economies, Bulgaria, Lithuania, and Mongolia suffered severe banking crises, which had to be resolved before growth could resume. The macroeconomic and institutional failings that led to these crises are described, and parallels are drawn with the causes of banking crises in industrial and developing countries. Resolving the crises proved technically and politically difficult, and setbacks occurred. Successful resolution required the implementation of a comprehensive and decisive strategy, involving thorough-going bank restructuring, heavy fiscal costs, and institutional and legal reforms.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 02/56.
Date of creation: 01 Mar 2002
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