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Bank Restructuring in Post-Crisis Asia

Author

Listed:
  • Don Hanna

    (Salomon Smith Barney and Citibank, 20th floor, 3 Exchange Square 8 Connaught Road, Central, Hong Kong SAR, China)

  • Yiping Huang

    (Salomon Smith Barney and Citibank, 20th floor, 3 Exchange Square 8 Connaught Road, Central, Hong Kong, SAR, China)

Abstract

We assess the quantitative effects of the 1997-98 banking crisis in Asia at both the macroeconomic and bank levels, comparing our findings to broader studies of banking crises. Asia's crisis was both more severe and more costly than others but showed little evidence of prolonged bank runs. We assess the nature of reforms using measures designed to address externalities or market structure, information asymmetries, and legal infrastructure. We compare these measures to results from Barth, Caprio, and Levine (2000) with respect to the effects of banking structure and regulation on financial development, finding that reforms to date have underemphasized private monitoring and have concentrated too many assets in state-owned institutions. Despite extensive efforts at broadening legal infrastructure, progress has been poor, especially in Indonesia and Thailand. Copyright (c) 2002 Center for International Development and the Massachusetts Institute of Technology.

Suggested Citation

  • Don Hanna & Yiping Huang, 2002. "Bank Restructuring in Post-Crisis Asia," Asian Economic Papers, MIT Press, vol. 1(1), pages 3-42.
    • Handle: RePEc:tpr:asiaec:v:1:y:2002:i:1:p:3-42
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    Cited by:

    1. Daniel Kapp & Marco Vega, 2014. "Real output costs of financial crises: A loss distribution approach," Cuadernos de Economía - Spanish Journal of Economics and Finance, Asociación Cuadernos de Economía, vol. 37(103), pages 13-28, Abril.
    2. Kapp, Daniel & Vega, Marco, 2012. "The Real Output Costs of Financial Crisis: A Loss Distribution Approach," Working Papers 2012-013, Banco Central de Reserva del Perú.
    3. Huibers Fred, 2024. "Distributed Ledger Technology and the Future of Money and Banking: Banking is Necessary, Banks Are Not. Bill Gates 1994," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 14(2), pages 213-249, May.

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