Countries that have experienced banking crises have adopted one of two distinct approaches toward the resolution of non-performing assets-a centralized or a decentralized solution. A centralized approach...
The authors investigate the link between financial crises and industry growth. They analyze data from 19 industrial and developing countries that have experienced financial crises during the past 30 years...
The authors study the determinants of the growing migration of stock market activity to international financial centers. They use a sample of 77 countries and document that higher economic growth and more...
The East Asian crisis began in Thailand in mid-1997 when an ailing financial sector, a slowdown in exports, and large increases in central bank credit to weak financial institutions, triggered a run on...
To encourage the private funding and provision of infrastructure services, governments have used specialized financing facilities to offer financial support to investors, often in the form of grants, soft...
Drawing on country experience, the authors analyze alternative frameworks for providing financial services. Scope of permissible activities: The integrated banking model (commercial banking fully integrated...
Few areas of the world have escaped significant losses from episodes of bank insolvency. Bank insolvency is more costly in the developing world, where losses represent a greater share of income. The authors...