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Banking Crises and Bank Resolution

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  • International Monetary Fund
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    Abstract

    Like 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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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=15694
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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 02/56.

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    Length: 70
    Date of creation: 01 Mar 2002
    Date of revision:
    Handle: RePEc:imf:imfwpa:02/56

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Daniel C. Hardy & Ashok Kumar Lahiri, 1992. "Bank Insolvency and Stabilization in Eastern Europe," IMF Staff Papers, Palgrave Macmillan, vol. 39(4), pages 778-800, December.
    2. International Monetary Fund, 1992. "Bank Insolvency and Stabilization in Eastern Europe," IMF Working Papers 92/9, International Monetary Fund.
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    Cited by:
    1. David G. Mayes, 2004. "An approach to bank insolvency in transition and emerging economies," Finance 0404015, EconWPA.
    2. Gary Gorton & Lixin Huang, 2004. "Liquidity, Efficiency, and Bank Bailouts," American Economic Review, American Economic Association, vol. 94(3), pages 455-483, June.
    3. Peter Ignatiev, 2003. "The banking crisis in Bulgaria in 1996-1997," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 66-88.
    4. Michael Andrews, 2005. "State-Owned Banks, Stability, Privatization, and Growth," IMF Working Papers 05/10, International Monetary Fund.
    5. Mayes, David G., 2005. "Who pays for bank insolvency in transition and emerging economies?," Journal of Banking & Finance, Elsevier, vol. 29(1), pages 161-181, January.
    6. Alessandro Zanello & Mark R. Stone & Christopher J. Jarvis & Andrew Berg, 2003. "Re-Establishing Credible Nominal Anchors After a Financial Crisis," IMF Working Papers 03/76, International Monetary Fund.
    7. Bonin, John & Wachtel, Paul, 2004. "Dealing with financial fragility in transition economies," BOFIT Discussion Papers 22/2004, Bank of Finland, Institute for Economies in Transition.
    8. Sándor Gardó, 2010. "Bank Governance and Financial Stability in CESEE: A Review of the Literature," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 1.

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