Banking Crises and Bank Resolution : Experiences in Some Transition Economies

Author/Editor:

International Monetary Fund

Publication Date:

March 1, 2002

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

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.

Series:

Working Paper No. 02/56

Subject(s):

English

Publication Date:

March 1, 2002

ISBN/ISSN:

9781451847710/1018-5941

Stock No:

WPIEA0562002

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

70

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