Financial Crises Explanations, Types, and Implications
  • Author : Stijn Claessens
  • Release Date : 30 January 2013
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 66
  • ISBN 13 : 9781475579086

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Book Description: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

Financial Crises Explanations  Types  and Implications

Financial Crises Explanations Types and Implications

Author : Stijn Claessens,Mr. M. Ayhan Kose
Publisher : International Monetary Fund
Genre : Business & Economics
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This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies ...

Financial Crises

Financial Crises

Author : Constantijn Claessens,Ayhan Kose
Publisher : Unknown
Genre : Uncategorized
Get Book

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies ...

Financial Crises Explanations  Types  and Implications

Financial Crises Explanations Types and Implications

Author : Mr.Stijn Claessens,Mr.Ayhan Kose
Publisher : International Monetary Fund
Genre : Business & Economics
Get Book

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies ...

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Author : Stijn Claessens,Mr. M. Ayhan Kose,Mr. Luc Laeven,Fabian Valencia
Publisher : International Monetary Fund
Genre : Business & Economics
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Financial Crises: Causes, Consequences, and Policy Responses provides a comprehensive overview of research into financial crises and policy lessons learned. The book covers a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces ...

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Publisher : Cosimo, Inc.
Genre : Political Science
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Publisher : World Bank Publications
Genre : Business & Economics
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The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, ...

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Author : Adam S. Posen,Rhee Changyong
Publisher : Peterson Institute for International Economics
Genre : Political Science
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The Asian financial crisis of 1997–98 was devastating for the region, but policymakers at least believed that they gained a great deal of knowledge on how to prevent, mitigate, and resolve crises in the future. Fifteen years later, the Asian developing countries escaped the worst effects of the global crisis of 2008–10, ...

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Author : Richard Vague
Publisher : University of Pennsylvania Press
Genre : Business & Economics
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Financial crises happen time and again in post-industrial economies—and they are extraordinarily damaging. Building on insights gleaned from many years of work in the banking industry and drawing on a vast trove of data, Richard Vague argues that such crises follow a pattern that makes them both predictable and ...

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Publisher : DIANE Publishing
Genre : Financial crises
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Author : Jean Tirole
Publisher : Princeton University Press
Genre : Business & Economics
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Tirole analyzes the current views on financial crises and on the reform of the international financial architecture. Based on the Paolo Baffi Lecture the author delivered at the Bank of Italy, this refreshingly accessible book is teeming with rich insights that researchers, policy makers, and students at all levels will ...

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Author : Mr.Stijn Claessens,Ms.Laura E. Kodres
Publisher : International Monetary Fund
Genre : Business & Economics
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We identify current challenges for creating stable, yet efficient financial systems using lessons from recent and past crises. Reforms need to start from three tenets: adopting a system-wide perspective explicitly aimed at addressing market failures; understanding and incorporating into regulations agents’ incentives so as to align them better with societies’ ...

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Author : Gary B. Gorton
Publisher : Oxford University Press
Genre : Business & Economics
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Before 2007, economists thought that financial crises would never happen again in the United States, that such upheavals were a thing of the past. Gary B. Gorton, a prominent expert on financial crises, argues that economists fundamentally misunderstand what they are, why they occur, and why there were none in the ...

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Publisher : Cambridge University Press
Genre : Business & Economics
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Policy Shock examines how policy-makers in industrialized democracies respond to major crises. After the immediate challenges of disaster management, crises often reveal new evidence or frame new normative perspectives that drive reforms designed to prevent future events of a similar magnitude. Such responses vary widely - from cosmetically masking inaction, ...

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Author : Laurent Ferrara,Ignacio Hernando,Daniela Marconi
Publisher : Springer
Genre : Business & Economics
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This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities ...

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Author : R. Glenn Hubbard,National Bureau of Economic Research,Professor R Glenn Hubbard
Publisher : University of Chicago Press
Genre : Business & Economics
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Warnings of the threat of an impending financial crisis are not new, but do we really know what constitutes an actual episode of crisis and how, once begun, it can be prevented from escalating into a full-blown economic collapse? Using both historical and contemporary episodes of breakdowns in financial trade, ...