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Public Sector Interventions in the Financial Sector

Author: Martin Cihak

Publisher:

Published: 2018

Total Pages:

ISBN-13: 9781484337202

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Review the experience with public sector interventions to support the financial system, ten years after the onset of the global financial crisis. The project's purpose is to shed light on long-run effects of public support, with a focus on its impact on fiscal balances and the banking system's structure. To this aim, it would provide an update on the fiscal costs of the interventions and on the extent to which intervened financial institutions remain on their respective governments' books. The Fall 2018 flagships would be able to draw on the project's results; the full paper and database would be published in November/December 2018.

Book Synopsis Public Sector Interventions in the Financial Sector by : Martin Cihak

Download or read book Public Sector Interventions in the Financial Sector written by Martin Cihak and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Review the experience with public sector interventions to support the financial system, ten years after the onset of the global financial crisis. The project's purpose is to shed light on long-run effects of public support, with a focus on its impact on fiscal balances and the banking system's structure. To this aim, it would provide an update on the fiscal costs of the interventions and on the extent to which intervened financial institutions remain on their respective governments' books. The Fall 2018 flagships would be able to draw on the project's results; the full paper and database would be published in November/December 2018.

The Long Shadow of the Global Financial Crisis: Public Interventions in the Financial Sector

Author: Ms.Deniz O Igan

Publisher: International Monetary Fund

Published: 2019-07-30

Total Pages: 90

ISBN-13: 1513508334

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We track direct public interventions and public holdings in 1,114 financial institutions over the period 2007–17 in 37 countries based on publicly available information. We use aggregate official data to validate this new dataset and estimate the fiscal impact of interventions, including the value of asset holdings remaining in state hands at end-2017. Direct public support to financial institutions amounted to $1.6 trillion ($3.5 trillion including guarantees), with larger amounts allocated to lower capitalized and less profitable banks. As of end-2017, only a few countries had fully divested the initial support they provided during the crisis. Public holdings were divested faster in better capitalized, more profitable, and more liquid banks, and in countries where the economy recovered faster. In countries where the government stake remained high relative to the initial intervention, private investment and credit growth were slower, financial access, depth, efficiency, and competition were worse, and financial stability improved less.

Book Synopsis The Long Shadow of the Global Financial Crisis: Public Interventions in the Financial Sector by : Ms.Deniz O Igan

Download or read book The Long Shadow of the Global Financial Crisis: Public Interventions in the Financial Sector written by Ms.Deniz O Igan and published by International Monetary Fund. This book was released on 2019-07-30 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: We track direct public interventions and public holdings in 1,114 financial institutions over the period 2007–17 in 37 countries based on publicly available information. We use aggregate official data to validate this new dataset and estimate the fiscal impact of interventions, including the value of asset holdings remaining in state hands at end-2017. Direct public support to financial institutions amounted to $1.6 trillion ($3.5 trillion including guarantees), with larger amounts allocated to lower capitalized and less profitable banks. As of end-2017, only a few countries had fully divested the initial support they provided during the crisis. Public holdings were divested faster in better capitalized, more profitable, and more liquid banks, and in countries where the economy recovered faster. In countries where the government stake remained high relative to the initial intervention, private investment and credit growth were slower, financial access, depth, efficiency, and competition were worse, and financial stability improved less.

The Real Effects of Financial Sector Interventions During Crises

Author: Mr.Luc Laeven

Publisher: International Monetary Fund

Published: 2011-03-01

Total Pages: 37

ISBN-13: 1455218979

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We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial sector recapitalization packages on the growth performance of firms in a large cross-section of 50 countries during the recent crisis. We develop an identification strategy that uses the financial crisis as a shock to credit supply and exploits exogenous variation in the degree to which firms depend on external financing for investment needs, and focus on policy interventions aimed at alleviating the bank capital crunch. We find that the growth of firms dependent on external financing is disproportionately positively affected by bank recapitalization policies, and that this effect is quantitatively important and robust to controlling for other financial sector support policies. We also find that fiscal policy disproportionately boosted growth of firms more dependent on external financing. These results provide new evidence of a quantitatively important role of credit market frictions in influencing real economic activity.

Book Synopsis The Real Effects of Financial Sector Interventions During Crises by : Mr.Luc Laeven

Download or read book The Real Effects of Financial Sector Interventions During Crises written by Mr.Luc Laeven and published by International Monetary Fund. This book was released on 2011-03-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial sector recapitalization packages on the growth performance of firms in a large cross-section of 50 countries during the recent crisis. We develop an identification strategy that uses the financial crisis as a shock to credit supply and exploits exogenous variation in the degree to which firms depend on external financing for investment needs, and focus on policy interventions aimed at alleviating the bank capital crunch. We find that the growth of firms dependent on external financing is disproportionately positively affected by bank recapitalization policies, and that this effect is quantitatively important and robust to controlling for other financial sector support policies. We also find that fiscal policy disproportionately boosted growth of firms more dependent on external financing. These results provide new evidence of a quantitatively important role of credit market frictions in influencing real economic activity.

Alchemists of Loss

Author: Kevin Dowd

Publisher: John Wiley & Sons

Published: 2010-04-27

Total Pages: 433

ISBN-13: 047068996X

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An engaging look at how modern finance almost destroyed our global economy Over the last thirty years, capital markets have been restructured through the tenets of modern finance. This has been enormously profitable for the financial services sector. However, these innovations, coupled with unsound risk and regulatory practices have proved disastrous for the global economy. In a clear and accessible style, ex-investment banker and financial journalist Martin Hutchinson, and highly respected academic, Kevin Dowd show how modern finance combined with easy money threatened to bring down the world financial system. At the heart of the book is modern finance as a U.S. invention, the theories and practices associated with them, and the changes they made in business models and risk management on Wall Street and other major financial centers. Breaks down the events involved in the 2007-08 financial collapse Reveals how botched policy response made a bad situation worse Focuses on lessons that the practice of finance must learn from recent events The Alchemists of Loss will help you to understand how our financial system crashed and show you what it will take to make sure this won't happen again as we move forward.

Book Synopsis Alchemists of Loss by : Kevin Dowd

Download or read book Alchemists of Loss written by Kevin Dowd and published by John Wiley & Sons. This book was released on 2010-04-27 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: An engaging look at how modern finance almost destroyed our global economy Over the last thirty years, capital markets have been restructured through the tenets of modern finance. This has been enormously profitable for the financial services sector. However, these innovations, coupled with unsound risk and regulatory practices have proved disastrous for the global economy. In a clear and accessible style, ex-investment banker and financial journalist Martin Hutchinson, and highly respected academic, Kevin Dowd show how modern finance combined with easy money threatened to bring down the world financial system. At the heart of the book is modern finance as a U.S. invention, the theories and practices associated with them, and the changes they made in business models and risk management on Wall Street and other major financial centers. Breaks down the events involved in the 2007-08 financial collapse Reveals how botched policy response made a bad situation worse Focuses on lessons that the practice of finance must learn from recent events The Alchemists of Loss will help you to understand how our financial system crashed and show you what it will take to make sure this won't happen again as we move forward.

Financial Sector Crisis and Restructuring

Author: Carl-Johan Lindgren

Publisher:

Published: 1999

Total Pages: 103

ISBN-13: 9781557758712

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An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.

Book Synopsis Financial Sector Crisis and Restructuring by : Carl-Johan Lindgren

Download or read book Financial Sector Crisis and Restructuring written by Carl-Johan Lindgren and published by . This book was released on 1999 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.

Unwinding Financial Sector Interventions

Author: Mr.Michael G. Papaioannou

Publisher: International Monetary Fund

Published: 2010-10-04

Total Pages: 94

ISBN-13: 1589069897

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As the financial crisis abates, governments are faced with the challenge of balancing the withdrawal of fiscal support with reestablishing sound public finances and sustainable growth. This volume presents papers from an IMF-sponsored conference of senior policymakers, academics, and senior representatives of the private sector on unwinding public interventions initiated during the crisis. There was broad agreement that the main goal of any strategy for unwinding such interventions should be to create price stability, fiscal sustainability, and a new economic landscape that is much safer than currently exists. Different perspectives on the timing and sequence of the exit process are presented and some guiding principles for exit strategies are discussed. Policy objectives, unwinding public support to banks, and dealing with risky assets purchased by central banks are among topics discussed in detail. The volume also presents views on what the new financial landscape will look like.

Book Synopsis Unwinding Financial Sector Interventions by : Mr.Michael G. Papaioannou

Download or read book Unwinding Financial Sector Interventions written by Mr.Michael G. Papaioannou and published by International Monetary Fund. This book was released on 2010-10-04 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the financial crisis abates, governments are faced with the challenge of balancing the withdrawal of fiscal support with reestablishing sound public finances and sustainable growth. This volume presents papers from an IMF-sponsored conference of senior policymakers, academics, and senior representatives of the private sector on unwinding public interventions initiated during the crisis. There was broad agreement that the main goal of any strategy for unwinding such interventions should be to create price stability, fiscal sustainability, and a new economic landscape that is much safer than currently exists. Different perspectives on the timing and sequence of the exit process are presented and some guiding principles for exit strategies are discussed. Policy objectives, unwinding public support to banks, and dealing with risky assets purchased by central banks are among topics discussed in detail. The volume also presents views on what the new financial landscape will look like.

Development Finance

Author: Gianluigi Giorgioni

Publisher: Springer

Published: 2017-08-23

Total Pages: 261

ISBN-13: 1137580321

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This book provides an in-depth overview of the most salient aspects of development finance. It critically reviews the current state of relevant literature on this topic and assesses both the challenges and the opportunities presented by the various forms of finance for development. Chapters from expert contributors examine a range of topics from the link between finance and growth and finance and misallocation, the relationship between financial illiteracy and lack of legal titles on access to finance, to the role of governments in the financial system and the role of overseas development assistance, remittances, microfinance, foreign direct investment (FDI) and stock exchanges on development. This book offers a good point of reference for postgraduate and PhD students and will appeal to researchers in this field.

Book Synopsis Development Finance by : Gianluigi Giorgioni

Download or read book Development Finance written by Gianluigi Giorgioni and published by Springer. This book was released on 2017-08-23 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth overview of the most salient aspects of development finance. It critically reviews the current state of relevant literature on this topic and assesses both the challenges and the opportunities presented by the various forms of finance for development. Chapters from expert contributors examine a range of topics from the link between finance and growth and finance and misallocation, the relationship between financial illiteracy and lack of legal titles on access to finance, to the role of governments in the financial system and the role of overseas development assistance, remittances, microfinance, foreign direct investment (FDI) and stock exchanges on development. This book offers a good point of reference for postgraduate and PhD students and will appeal to researchers in this field.

Access to Financial Services

Author: Stijn Claessens

Publisher: World Bank Publications

Published: 2005

Total Pages: 38

ISBN-13:

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"This paper reviews the evidence on the importance of finance for economic well-being, provides data on the degree of use of basic financial services by households and firms across a sample of countries, assesses the desirability of more universal access, and overviews the macroeconomic, legal, and regulatory obstacles to access using general evidence and case studies. Although access to finance can be very beneficial, the data show that universal use is far from prevalent in many countries, especially developing countries. At the same time, universal access has generally not been a public policy objective and is surely not easily achievable in most countries.

Book Synopsis Access to Financial Services by : Stijn Claessens

Download or read book Access to Financial Services written by Stijn Claessens and published by World Bank Publications. This book was released on 2005 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper reviews the evidence on the importance of finance for economic well-being, provides data on the degree of use of basic financial services by households and firms across a sample of countries, assesses the desirability of more universal access, and overviews the macroeconomic, legal, and regulatory obstacles to access using general evidence and case studies. Although access to finance can be very beneficial, the data show that universal use is far from prevalent in many countries, especially developing countries. At the same time, universal access has generally not been a public policy objective and is surely not easily achievable in most countries.

Government Intervention in the Financial Sector

Author: Cathy McRae

Publisher:

Published: 1983

Total Pages: 60

ISBN-13:

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The purpose of this study is to examine the origins of the Federal Business Development Bank (FBDB). It focuses on the ideas and intentions of the political authority that established the FBDB as a public enterprise.

Book Synopsis Government Intervention in the Financial Sector by : Cathy McRae

Download or read book Government Intervention in the Financial Sector written by Cathy McRae and published by . This book was released on 1983 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this study is to examine the origins of the Federal Business Development Bank (FBDB). It focuses on the ideas and intentions of the political authority that established the FBDB as a public enterprise.

Public Sector Financial Institutions in Economic Development

Author: Maxwell J. Fry

Publisher:

Published: 1991

Total Pages: 62

ISBN-13:

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Book Synopsis Public Sector Financial Institutions in Economic Development by : Maxwell J. Fry

Download or read book Public Sector Financial Institutions in Economic Development written by Maxwell J. Fry and published by . This book was released on 1991 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: