The authors analyze the role of institutions in resolving systemic banking crises for a broad sample of countries. Banking crises are fiscally costly, especially when policies like substantial liquidity support, explicit government guarantees on financial institutions’ liabilities, and forbearance from prudential regulations are used. Higher fiscal outlays do not, however, accelerate the recovery from a crisis. Better institutions—less corruption...
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INFORMATION
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2004/08/01
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Document de travail de recherche sur les politiques
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WPS3377
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1
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1
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2010/07/01
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Resolving systemic financial crisis : policies and institutions
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fiscal
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