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Reforms in the Wake of the Global Crisis
The IMF, with the Bank for International Settlements and the Financial Stability Board, has been at the forefront of discussions on reform of the glob...
The SDN elaborates the case for, and the design of, a banking union for the euro area. It discusses the benefits and costs of a banking union, present...
Was Asia Different?
This paper examines episodes of the banking system distress and crisis in a large sample of countries. The empirical results identify several macroeco...
Pitfalls in Financial Liberalization: Pitfalls in Financial Liberalization
This study examines the banking crises in Finland, Norway and Sweden, which took place in the early 1990s, and draws some policy conclusions from thei...
This paper analyzes the different channels through which financial variables and financial sector reform can affect economic growth and efficiency, us...
A Survey of 24 Countries
In recent decades, a wide range of countries have experienced banking problems. Their approaches to systemic bank restructuring have varied substantia...
Three years after the onset of the global financial crisis, much has been done to reform the global financial system, but there is much left to accomp...
The Mexican Experience
This paper estimates a speculative attack model of currency crises in order to identify the role of economic fundamentals and any early warning signal...
Likelihood Versus Timing of Failure: An Application to the Mexican Financial Crisis
This paper tests empirically the proposition that bank fragility is determined by bank-specific factors, macroeconomic conditions and potential contag...
Credibility is the bedrock of any crisis stress test. The use of stress tests to manage systemic risk was introduced by the U.S. authorities in 2009 i...
Will the Volcker, Vickers, and Liikanen Structural Measures Help?
The U.S., the U.K., and more recently, the E.U., have proposed policy measures directly targeting complexity and business structures of banks. Unlike ...
This paper estimates a disequilibrium model of credit supply and demand to evaluate whether there was a credit crunch in Finland following the banking...
This paper estimates a speculative attack model of currency crises in an attempt to identify the roles of macroeconomic fundamentals and speculative m...
Degregulation, boom-bust, cycles, restructuring....
Pitfalls in Financial Liberalization
The causes of the global financial crisis were multi-faceted but revealed still unresolved weaknesses in national and international financial oversigh...
Financial sector reforms are being considered to address the risks posed by large and complex financial institutions (LCFIs). The vast majority of glo...
This paper reviews trends in bank lending to the private sector, with a particular focus on Central and Eastern European countries, and finds that rap...
Selected Issues and Statistical Appendix
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Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit co...