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An approach to bank insolvency in transition and emerging economies

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Author Info
David G. Mayes (Bank of Finland)

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Abstract

In the light of the inequity of the way losses from bank insolvencies and their avoidance through intervention by the authorities have been distributed over creditors, depositors, owners and the population at large in transition and emerging economies, this paper explores a number of regulatory reforms that would alter the balance between seeking to avoid insolvency and lowering the costs of insolvency should it occur. In particular it considers whether a lex specialis for dealing with banks that are in trouble through prompt corrective action and if necessary resolving them if their net worth falls to zero, at little or no cost to the taxpayer can be applied in the institutional framework of transition and emerging economies.

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File URL: http://129.3.20.41/eps/fin/papers/0404/0404015.pdf
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Publisher Info
Paper provided by EconWPA in its series Finance with number 0404015.

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Length: 51 pages
Date of creation: 26 Apr 2004
Date of revision:
Handle: RePEc:wpa:wuwpfi:0404015

Note: Type of Document - pdf; pages: 51
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Web page: http://129.3.20.41

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Related research
Keywords: insolvency; banks; transition; emerging economies;

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Find related papers by JEL classification:
K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages
O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment
G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
E53 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Deposit Insurance

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References listed on IDEAS
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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    Other versions:
  2. James Daniel, 1997. "Fiscal Aspects of Bank Restructuring," IMF Working Papers 97/52, International Monetary Fund.
  3. King, Mervyn, 1994. "Debt deflation: Theory and evidence," European Economic Review, Elsevier, vol. 38(3-4), pages 419-445, April. [Downloadable!] (restricted)
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    Other versions:
  6. Haizhou Huang & C. A. E. Goodhart, 1999. "A Model of the Lender of Last Resort," IMF Working Papers 99/39, International Monetary Fund.
    Other versions:
  7. Robert R. Bliss & Mark J. Flannery, 2000. "Market discipline in the governance of U.S. Bank Holding Companies: monitoring vs. influencing," Working Paper Series WP-00-3, Federal Reserve Bank of Chicago. [Downloadable!]
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    Other versions:
  9. Calomiris, Charles W., 1999. "Building an incentive-compatible safety net," Journal of Banking & Finance, Elsevier, vol. 23(10), pages 1499-1519, October. [Downloadable!] (restricted)
  10. Charles Enoch & Anne Marie Gulde & Daniel C. L. Hardy, 2002. "Banking Crises and Bank Resolution: Experiences in Some Transition Economies," IMF Working Papers 02/56, International Monetary Fund. [Downloadable!]
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  18. Mayes, D. & Vesala, J., 1998. "On the Problems of Home Country Control," Bank of Finland - Studies in Economics and Finance 20/98, Bank of Finland. Research Department..
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  19. Berger, Allen N. & King, Kathleen Kuester & O'Brien, James M., 1991. "The limitations of market value accounting and a more realistic alternative," Journal of Banking & Finance, Elsevier, vol. 15(4-5), pages 753-783, September. [Downloadable!] (restricted)
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  21. Mayes, D.G., 1998. "Improving Bankin Supervision," Bank of Finland - Studies in Economics and Finance 23/98, Bank of Finland. Research Department..
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  22. Kina Chenard & Udaibir S. Das & Marc Quintyn, 2004. "Does Regulatory Governance Matter for Financial System Stability? An Empirical Analysis," IMF Working Papers 04/89, International Monetary Fund. [Downloadable!]
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Full references

Cited by:
(explanations, 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.)

  1. Suvanto , Antti & Hukkinen , Juhana, 2004. "Stable price level and changing prices," Research Discussion Papers 28/2004, Bank of Finland. [Downloadable!]
  2. Hyytinen, Ari & Takalo , Tuomas, 2004. "Multihoming in the market for payment media: evidence from young Finnish consumers," Research Discussion Papers 25/2004, Bank of Finland. [Downloadable!]
    Other versions:
  3. Puhakka, Mikko, 2004. "Equilibrium dynamics under lump-sum taxation in an exchange economy with skewed endowments," Research Discussion Papers 29/2004, Bank of Finland. [Downloadable!]
  4. Mikko Puhakka, 2005. "Equilibrium dynamics under lump-sum taxation in an exchange economy with skewed endowments," Macroeconomics 0508033, EconWPA. [Downloadable!]
  5. Mälkönen , Ville, 2004. "The efficiency implications of financial conglomeration," Research Discussion Papers 17/2004, Bank of Finland. [Downloadable!]
  6. Leitemo, Kai & Söderström , Ulf, 2004. "Robust monetary policy in the New-Keynesian framework," Research Discussion Papers 31/2004, Bank of Finland. [Downloadable!]
    Other versions:
  7. Antti Suvanto & Juhana Hukkinen, 2005. "Stable price level and changing prices," Macroeconomics 0508034, EconWPA. [Downloadable!]
  8. Jokivuolle , Esa & Lanne , Markku, 2004. "Trading Nokia: The roles of the Helsinki vs the New York stock exchanges," Research Discussion Papers 26/2004, Bank of Finland. [Downloadable!]
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