Comment
Author: HEIKKI KOSKENKYLÄ
Language:
English
Keywords:
SEM; market; bank; rating; market participant; market discipline; IMF surveillance; risk profile; government regulator; Financial sector stability; Credit; Credit risk; Financial Sector Assessment Program; Global; Europe; Southeast Asia; East Asia; Asia and Pacific; payment system problem; RTGS payment; net cost; macroeconomic crisis; contagion effect; Commercial banks; Systemic risk; Payment systems; Real time gross settlement systems

Abstract

The Hamada paper is an interesting attempt to discuss the costs of severe financial crises. The paper’s broad scope—embracing payment system problems, electronic networks, currency crises, and general macroeconomic imbalances—causes some problems for the analysis, however. Nevertheless, this interesting paper succeeds in raising the relevant issues and highlighting the difficulty of estimating the costs of financial crises.

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Cover Financial Risks, Stability, and Globalization
Financial Risks, Stability, and Globalization
Author: Mr. Omotunde E. G. Johnson
ISBN:
9781589060128
Publication Date:
29 Apr 2002
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589060128.072
Pages:
570