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Banking Crises and Bank Resolution: Experiences in Some Transition Economies

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  • International Monetary Fund

Abstract

Like most transition economies, Bulgaria, Lithuania, and Mongolia suffered severe banking crises, which had to be resolved before growth could resume. The macroeconomic and institutional failings that led to these crises are described, and parallels are drawn with the causes of banking crises in industrial and developing countries. Resolving the crises proved technically and politically difficult, and setbacks occurred. Successful resolution required the implementation of a comprehensive and decisive strategy, involving thorough-going bank restructuring, heavy fiscal costs, and institutional and legal reforms.

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  • International Monetary Fund, 2002. "Banking Crises and Bank Resolution: Experiences in Some Transition Economies," IMF Working Papers 2002/056, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2002/056
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    1. Daniel C. Hardy & Ashok Kumar Lahiri, 1992. "Bank Insolvency and Stabilization in Eastern Europe," IMF Staff Papers, Palgrave Macmillan, vol. 39(4), pages 778-800, December.
    2. International Monetary Fund, 1992. "Bank Insolvency and Stabilization in Eastern Europe," IMF Working Papers 1992/009, International Monetary Fund.
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    Cited by:

    1. Vasilev, Aleksandar, 2009. "Business cycles in Bulgaria and the Baltic countries: an RBC approach," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 1(2), pages 148-170.
    2. Sándor Gardó, 2010. "Bank Governance and Financial Stability in CESEE: A Review of the Literature," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 6-31.
    3. Abdul Abiad & Enrica Detragiache & Thierry Tressel, 2010. "A New Database of Financial Reforms," IMF Staff Papers, Palgrave Macmillan, vol. 57(2), pages 281-302, June.
    4. Gary Gorton & Lixin Huang, 2004. "Liquidity, Efficiency, and Bank Bailouts," American Economic Review, American Economic Association, vol. 94(3), pages 455-483, June.
    5. repec:zbw:bofrdp:2004_004 is not listed on IDEAS
    6. Mayes, David G., 2004. "An approach to bank insolvency in transition and emerging economies," Bank of Finland Research Discussion Papers 4/2004, Bank of Finland.
    7. Mr. Alessandro Zanello & Mr. Mark R. Stone & Mr. Christopher J. Jarvis & Mr. Andrew Berg, 2003. "Re-Establishing Credible Nominal Anchors After a Financial Crisis: A Review of Recent Experience," IMF Working Papers 2003/076, International Monetary Fund.
    8. David G. Mayes, 2004. "An approach to bank insolvency in transition and emerging economies," Finance 0404015, University Library of Munich, Germany.
    9. Mayes, David G., 2005. "Who pays for bank insolvency in transition and emerging economies?," Journal of Banking & Finance, Elsevier, vol. 29(1), pages 161-181, January.
    10. Mr. Michael Andrews, 2005. "State-Owned Banks, Stability, Privatization, and Growth: Practical Policy Decisions in a World Without Empirical Proof," IMF Working Papers 2005/010, International Monetary Fund.
    11. Masaru Honma, 2015. "Banking Sector Transition in Mongolia Since 1990," The Northeast Asian Economic Review, ERINA - Economic Research Institute for Northeast Asia, vol. 3(2), pages 29-42, October.
    12. Peter Ignatiev, 2003. "The banking crisis in Bulgaria in 1996-1997," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 66-88.

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