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The Real Effect of Banking Crises

The Real Effect of Banking Crises »

Source: The Real Effect of Banking Crises

Volume/Issue: 2005/63

Series: IMF Working Papers

Author(s): Giovanni Dell'Ariccia , Raghuram Rajan , and Enrica Detragiache

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

ISBN: 9781451860825

Keywords: bank lending channel, banking, banking crisis, currency crisis, bank lending, Financial Markets and the Macroeconomy,

Banking crises are usually followed by a decline in credit and growth. Is this because crises tend to take place during economic downturns, or do banking sector problems have independent negative effects on the eco...

A Theory of International Crisis Lending and IMF Conditionality

A Theory of International Crisis Lending and IMF Conditionality »

Source: A Theory of International Crisis Lending and IMF Conditionality

Volume/Issue: 2008/236

Series: IMF Working Papers

Author(s): Jeronimo Zettelmeyer , Jonathan Ostry , and Olivier Jeanne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2008

ISBN: 9781451870947

Keywords: ex ante conditionality, conditionality, crisis lending, ante conditionality,

We present a framework that clarifies the financial role of the IMF, the rationale for conditionality, and the conditions under which IMF-induced moral hazard can arise. In the model, traditional conditionality com...

A Credit Crunch? A Case Study of Finland in the Aftermath of the Banking Crisis

A Credit Crunch? A Case Study of Finland in the Aftermath of the Banking Crisis »

Source: A Credit Crunch? a Case Study of Finland in the Aftermath of the Banking Crisis

Volume/Issue: 1996/135

Series: IMF Working Papers

Author(s): Ceyla Pazarbasioglu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1996

ISBN: 9781451855661

Keywords: Finland, banking, equation, banking crisis, bank lending, equations

This paper estimates a disequilibrium model of credit supply and demand to evaluate whether there was a credit crunch in Finland following the banking crisis of 1991-92. Empirical analysis suggests that the marked...

Moral Hazard and International Crisis Lending: A Test

Moral Hazard and International Crisis Lending: A Test »

Source: Moral Hazard and International Crisis Lending : A Test

Volume/Issue: 2002/181

Series: IMF Working Papers

Author(s): Giovanni Dell'Ariccia , Jeronimo Zettelmeyer , and Isabel Schnabel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2002

ISBN: 9781451859201

Keywords: international lending, bond, crisis lending, bond spreads, bonds, International Lending and Debt Problems, Econometric Methods: - Single Equation Models,

We test for the existence of a moral hazard effect attributable to official crisis lending by analyzing the evolution of sovereign bond spreads in emerging markets before and after the Russian crisis. The nonbailou...

Spillovers Through Banking Centers

Spillovers Through Banking Centers »

Source: Spillovers Through Banking Centers : A Panel Data Analysis

Volume/Issue: 2000/88

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2000

ISBN: 9781451851151

Keywords: Contagion, Currency Crisis, Financial Spillovers, bank claims, asian crisis, bank lending

To test the role of bank lending in transmitting currency crisis we examine a panel of BIS data on bank flows to 30 emerging markets disaggregated by 11 banking centers. We find that bank exposures to a crisis coun...

Timing of International Bailouts

Timing of International Bailouts »

Source: Timing of International Bailouts

Volume/Issue: 2004/9

Series: IMF Working Papers

Author(s): Se-Jik Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2004

ISBN: 9781451842623

Keywords: International lender of last resort, crisis contagion, information asymmetry, crisis prevention, contagion, international crisis, International Monetary Arrangements and Institutions, International Lending and Debt Problems,

This paper proposes that international rescue financing should not be provided to a country where a crisis first occurs, but rather to any country that suffers a subsequent crisis. Such a timing-based lending facil...

Lending Booms, Real Estate Bubbles and the Asian Crisis

Lending Booms, Real Estate Bubbles and the Asian Crisis »

Source: Lending Booms, Real Estate Bubbles and the Asian Crisis

Volume/Issue: 2002/20

Series: IMF Working Papers

Author(s): Abdelhak Senhadji , and Charles Collyns

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

ISBN: 9781451843859

Keywords: Lending Booms, Real Estate Bubbles, Asia Crisis, real estate, stock market, real estate prices, moral hazard, Asian Crisis,

This paper examines the link between lending booms, asset price cycles, and financial crises across East Asian countries. Both theoretical arguments and empirical evidence support a strong relationship between bank...

Macro-Financial Implications of Corporate (De)Leveraging in the Euro Area Periphery1

Macro-Financial Implications of Corporate (De)Leveraging in the Euro Area Periphery1 »

Source: Macro-Financial Implications of Corporate (De)Leveraging in the Euro Area Periphery

Volume/Issue: 2013/154

Series: IMF Working Papers

Author(s): Manuela Goretti , and Marcos Souto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2013

ISBN: 9781475577563

Keywords: Corporate investment, Euro Area, Debt overhang, Deleveraging, Crisis, debt restructuring, crisis episodes, corporate sector, competitiveness, International Lending and Debt Problems

High corporate indebtedness can pose an important threat to the adjustment processes in some of the Euro area periphery countries, through its drag on investment as well as the possible migration of private sector...

Systemic Financial Crises, Balance Sheets, and Model Uncertainity

Systemic Financial Crises, Balance Sheets, and Model Uncertainity »

Source: Systemic Financial Crises, Balance Sheets, and Model Uncertainity

Volume/Issue: 2001/162

Series: IMF Working Papers

Author(s): Melvyn Weeks , and Mark Stone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

ISBN: 9781451857870

Keywords: currency crisis, bank crisis, financial crises, crisis probability, banking, contagion, bank crises, Model Evaluation and Selection, International Lending and Debt Problems,

This paper empirically examines the probability and intensity of financial crises during the 1990s with a view to informing crisis prevention and mitigation policies. The econometric analysis uses a decision-theore...

Foreign Banks and the Vienna Initiative

Foreign Banks and the Vienna Initiative »

Source: Foreign Banks and the Vienna Initiative : Turning Sinners Into Saints?

Volume/Issue: 2012/117

Series: IMF Working Papers

Author(s): Ralph De Haas , Yevgeniya Korniyenko , Alexander Pivovarsky , and Elena Loukoianova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

ISBN: 9781475503463

Keywords: Foreign Banks, Vienna Initiative, Financial Crisis, State Support, subsidiaries, banking, bank subsidiaries, capital markets, bank lending

We use data on 1,294 banks in Central and Eastern Europe to analyze how bank ownership and creditor coordination in the form of the Vienna Initiative affected credit growth during the 2008-09 crisis. As part of the...