Click here for search results
Are all the sacred cows dead ? implications of the financial crisis for macro and financial policies, Volume 1
Author:Demirguc-Kunt, Asli; Serven, Luis; Country:World;
Date Stored:2009/01/05Document Date:2009/01/01
Document Type:Policy Research Working PaperSubTopics:Debt Markets; Banks & Banking Reform; Emerging Markets; Bankruptcy and Resolution of Financial Distress; Currencies and Exchange Rates
Language:EnglishRegion:The World Region
Report Number:WPS4807Collection Title:Policy Research working paper ; no. WPS 4807
Volume No:1  

Summary: The recent global financial crisis has shaken the confidence of developed and developing countries alike in the very blueprint of financial and macro policies that underlie the western capitalist systems. In an effort to contain the crisis from spreading, the authorities in the US and many European governments have taken unprecedented steps of providing extensive liquidity, giving assurances to bank depositors and creditors that include blanket guarantees, and structuring bail-out programs that include taking large ownership stakes in financial institutions, in addition to establishing programs for direct provision of credit to non-financial institutions. Emphasizing the importance of incentives and tensions between short term and longer term policy responses to crisis management, this paper draws on a large body of research evidence and country experiences to discuss the implications of the current crisis for financial and macroeconomic policies going forward.

Official Documents
Official, scanned versions of documents (may include signatures, etc.)
File TypeDescriptionFile Size (mb)
PDF 54 pagesOfficial version*3.78 (approx.)
TextText version**
How To Order

* The official version is derived from scanning the final, paper copy of the document and is the official,
archived version including all signatures, charts, etc.
** The text version is the OCR text of the final scanned version and is not an accurate representation of the final text.
It is provided solely to benefit users with slow connectivity.

Permanent URL for this page:

© 2016 The World Bank Group, All Rights Reserved. Legal