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Author : Alexander Fleming
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4./5 ( download)
Download or read book The Latvian Banking Crisis written by Alexander Fleming and published by World Bank Publications. This book was released on 1996 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Anders Åslund
Publisher : Peterson Institute
ISBN 13 : 088132602X
Total Pages : 159 pages
Book Rating : 4.8/5 (813 download)
Download or read book How Latvia Came Through the Financial Crisis written by Anders Åslund and published by Peterson Institute. This book was released on 2011 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: Latvia stands out as the East European country hardest hit by the global financial crisis; it lost approximately 25 percent of its GDP between 2008 and 2010. It was also the most overheated economy before the crisis. But in the second half of 2010, Latvia returned to economic growth. How did this happen so quickly? Current Latvian Prime Minister Valdis Dombrovskis, who shepherded Latvia through the crisis, and renowned author Anders slund discuss why the Latvian economy became so overheated; why an IMF and European Union stabilization program was needed; what the Latvian government did to resolve the financial crisis and why it made these choices; and what the outcome has been. This book offers a rare insider's look at how a national government responded to a global financial crisis, made tough choices, and led the country back to economic growth.
Author : Alex Fleming
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Latvian Banking Crisis written by Alex Fleming and published by . This book was released on 2016 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lessons from Latvia's banking crisis can be applied in other transition economies.In the spring of 1995, Latvia experienced the largest banking crisis in the former Soviet Union to date, involving the loss of about 40 percent of the banking system's assets and liabilities. Fleming and Talley outline the Latvian authorities' strategy for developing the banking system and identify how and why it unraveled. They discuss the World Bank's role and the lessons to be learned from the crisis, including the following:Banking systems are exposed to stress in several major ways. Enterprises - the main borrowers - become subject to hard budget constraints (are cut off from government funds) and are privatized. Inflation declines so enterprises can't rely on rapidly increasing revenues to service bank debts. Economic reform tends to produce banking systems that are mainly privately owned - making them vulnerable to withdrawals, as the public does not assume that failing banks will be bailed out.The government must protect against this vulnerability by establishing a proper legal framework for banking, developing effective bank supervision and regulation, and implementing solid accounting, disclosure, and auditing standards. It must also develop effective ways to handle problem banks and to close insolvent banks promptly.For banks in the state sector to be a source of strength to the banking system, they must have strong effective management and be relatively free from political influence.Outlier banks - those expanding assets very quickly or offering particularly high deposit rates - should be subject to intense supervision.Four things must be done to prevent fraud, incompetent management, and excessive risk-taking: Carefully screen those who want to get into banking; subject all banks to thorough, frequent onsite examinations and assign the best examiners to the largest banks; require annual audits of all banks by reputable auditing firms required to report significant irregularities to authorities; and act decisively when fraud or bank difficulties are detected or suspected.This paper - a product of the Enterprise and Financial Sector Development Division, Europe and Central Asia, Country Department IV - is part of a larger effort in the region to distill the lessons of the first five years of transition.
Author : Alex Fleming
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (847 download)
Download or read book Latvian Banking Crisis written by Alex Fleming and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: April 1996 Lessons from Latvia's banking crisis can be applied in other transition economies. In the spring of 1995, Latvia experienced the largest banking crisis in the former Soviet Union to date, involving the loss of about 40 percent of the banking system's assets and liabilities. Fleming and Talley outline the Latvian authorities' strategy for developing the banking system and identify how and why it unraveled. They discuss the World Bank's role and the lessons to be learned from the crisis, including the following: * Banking systems are exposed to stress in several major ways. Enterprises -- the main borrowers -- become subject to hard budget constraints (are cut off from government funds) and are privatized. Inflation declines so enterprises can't rely on rapidly increasing revenues to service bank debts. Economic reform tends to produce banking systems that are mainly privately owned -- making them vulnerable to withdrawals, as the public does not assume that failing banks will be bailed out. * The government must protect against this vulnerability by establishing a proper legal framework for banking, developing effective bank supervision and regulation, and implementing solid accounting, disclosure, and auditing standards. It must also develop effective ways to handle problem banks and to close insolvent banks promptly. * For banks in the state sector to be a source of strength to the banking system, they must have strong effective management and be relatively free from political influence. * Outlier banks -- those expanding assets very quickly or offering particularly high deposit rates -- should be subject to intense supervision. * Four things must be done to prevent fraud, incompetent management, and excessive risk-taking: carefully screen those who want to get into banking; subject all banks to thorough, frequent onsite examinations and assign the best examiners to the largest banks; require annual audits of all banks by reputable auditing firms required to report significant irregularities to authorities; and act decisively when fraud or bank difficulties are detected or suspected. This paper -- a product of the Enterprise and Financial Sector Development Division, Europe and Central Asia, Country Department IV -- is part of a larger effort in the region to distill the lessons of the first five years of transition.
Author : Fleming
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)
Download or read book The Latvian Banking Crisis written by Fleming and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451824408
Total Pages : 122 pages
Book Rating : 4.4/5 (518 download)
Download or read book Republic of Latvia written by International Monetary Fund and published by International Monetary Fund. This book was released on 1997-01-23 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews economic developments in Latvia during 1994–96. The paper highlights that developments during this period have been dominated by the after-effects of the fiscal slippage in 1994 and the banking crisis in 1995, although there are signs of a recovery from these adverse episodes. The paper provides an in-depth analysis of selected economic issues facing Latvia. It analyzes the environment for the private-sector development, and reviews interest rate developments, focusing in particular on the treasury-bill market.
Author : Marta de Castello Branco
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.:/5 (318 download)
Download or read book Financial Sector Reform and Banking Crises in the Baltic Countries written by Marta de Castello Branco and published by . This book was released on 1996 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451855559
Total Pages : 52 pages
Book Rating : 4.4/5 (518 download)
Download or read book Financial Sector Reform and Banking Crises in the Baltic Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 1996-12-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial sector reform in the Baltic countries is reviewed in light of the banking crises that emerged during the reform period. It is argued that the crises had their roots in the structural deficiencies specific to planned economies and the financial environment that developed before and after these countries regained their independence, thus rendering them largely inevitable. Because of the low level of financial intermediation, however, even the failure of large banks had limited systemic effects and a minor negative impact on output and incomes. The crises slowed down the financial reform process, but brought about a desired consolidation of the banking sector.
Author : Alaric Hall
Publisher : punctum books
ISBN 13 : 1950192695
Total Pages : 395 pages
Book Rating : 4.9/5 (51 download)
Download or read book Útrásarvíkingar! written by Alaric Hall and published by punctum books. This book was released on 2020 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the global banking boom of the early twenty-first century expanded towards implosion, Icelandic media began calling the country's celebrity financiers útrásarvíkingar: “raiding vikings.” This new coinage encapsulated the macho, medievalist nationalism which underwrote Iceland's exponential financialisation. Yet within a few days in October 2008, Iceland saw all its main banks collapse beneath debts worth nearly ten times the country's GDP.Hall charts how Icelandic novelists and poets grappled with the Crash over the ensuing decade. As the first English-language monograph devoted to twenty-first-century Icelandic literature, it provides Anglophone readers with an introduction to one of the world's liveliest literary scenes. It also contributes a key case study for understanding global artistic responses to the early twenty-first century crisis of runaway, unregulated capitalism, exploring the struggles of writers to adapt realist forms of art to surreal times.As Iceland's biggest crisis since their independence from Denmark in 1944, the effect of the Crash on the national self-image was as seismic as its effects on the economy. This study analyses the centrality of whiteness and the abjection of the “developing world” in Iceland's post-colonial identity, and shows how Crash-writing explores the collisions of Iceland's traditional, nationalist medievalism with a dystopian, Orientalist medievalism associated with the Islamic world.The Crash in Iceland was instantly recognised as offering important economic insights. This book shows how Iceland also helps us to understand the cultural convulsions that have followed the Financial Crisis widely in the West.
Author : Dick K. Nanto
Publisher : DIANE Publishing
ISBN 13 : 1437919847
Total Pages : 127 pages
Book Rating : 4.4/5 (379 download)
Download or read book The Global Financial Crisis written by Dick K. Nanto and published by DIANE Publishing. This book was released on 2009 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contents: (1) Recent Developments and Analysis; (2) The Global Financial Crisis and U.S. Interests: Policy; Four Phases of the Global Financial Crisis; (3) New Challenges and Policy in Managing Financial Risk; (4) Origins, Contagion, and Risk; (5) Effects on Emerging Markets: Latin America; Russia and the Financial Crisis; (6) Effects on Europe and The European Response: The ¿European Framework for Action¿; The British Rescue Plan; Collapse of Iceland¿s Banking Sector; (7) Impact on Asia and the Asian Response: Asian Reserves and Their Impact; National Responses; (8) International Policy Issues: Bretton Woods II; G-20 Meetings; The International Monetary Fund; Changes in U.S. Reg¿s. and Regulatory Structure; (9) Legislation.
Author : Anders Åslund
Publisher : Peterson Institute
ISBN 13 : 0881326178
Total Pages : 137 pages
Book Rating : 4.8/5 (813 download)
Download or read book The Last Shall Be the First: The East European Financial Crisis written by Anders Åslund and published by Peterson Institute. This book was released on 2010 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steven Blockmans
Publisher :
ISBN 13 : 9789461385758
Total Pages : 0 pages
Book Rating : 4.3/5 (857 download)
Download or read book Regroup and Reform written by Steven Blockmans and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: CEPS is an independent policy research institute based in Brussels. Its mission is to produce sound analytical research leading to constructive solutions to the challenges facing Europe today. This report is based on discussions in the CEPS Task Force on EU Reform.
Author : Sagan A.
Publisher : World Health Organization
ISBN 13 : 9289050373
Total Pages : 163 pages
Book Rating : 4.2/5 (89 download)
Download or read book Voluntary Health Insurance in Europe: Country Experience written by Sagan A. and published by World Health Organization. This book was released on 2016-07-20 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: No two markets for voluntary health insurance (VHI) are identical. All differ in some way because they are heavily shaped by the nature and performance of publicly financed health systems and by the contexts in which they have evolved. This volume contains short structured profiles of markets for VHI in 34 countries in Europe. These are drawn from European Union member states plus Armenia Iceland Georgia Norway the Russian Federation Switzerland and Ukraine. The book is aimed at policy-makers and researchers interested in knowing more about how VHI works in practice in a wide range of contexts. Each profile written by one or more local experts identifies gaps in publicly-financed health coverage describes the role VHI plays outlines the way in which the market for VHI operates summarises public policy towards VHI including major developments over time and highlights national debates and challenges. The book is part of a study on VHI in Europe prepared jointly by the European Observatory on Health Systems and Policies and the WHO Regional Office for Europe. A companion volume provides an analytical overview of VHI markets across the 34 countries.
Author : Michael Holmes
Publisher :
ISBN 13 : 9781526163691
Total Pages : 256 pages
Book Rating : 4.1/5 (636 download)
Download or read book The European Left and the Financial Crisis written by Michael Holmes and published by . This book was released on 2022-04-05 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely collection addresses key questions including: How did political parties from the left respond to the crisis? What does the crisis mean for the relationship between the left and European integration, and what does it mean for socialism as an economic, political and social project?
Author : Gerard Caprio (Jr.), Daniela Klingebiel
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4./5 ( download)
Download or read book Bank Insolvencies Cross-country Experience written by Gerard Caprio (Jr.), Daniela Klingebiel and published by World Bank Publications. This book was released on 1996 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 112 pages
Book Rating : 4.F/5 ( download)
Download or read book Latvia written by International Monetary Fund and published by International Monetary Fund. This book was released on 1995-12-19 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews economic developments in Latvia during 1993–94. During 1994, Latvia began to enjoy the fruits of its steadfast efforts to achieve macroeconomic stabilization and the transformation to a market economy. GDP grew by 2 percent, after three years of economic decline in which output is estimated to have fallen by about 50 percent. Real wages also increased in 1994, after sharp declines in earlier years. Although the unemployment rate increased to about 61⁄2 percent of the labor force, it remained well below expectations and also below unemployment rates in Western Europe.
Author : Swen Hutter
Publisher : Cambridge University Press
ISBN 13 : 1108483798
Total Pages : 449 pages
Book Rating : 4.1/5 (84 download)
Download or read book European Party Politics in Times of Crisis written by Swen Hutter and published by Cambridge University Press. This book was released on 2019-06-27 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: A study of party competition in Europe since 2008 aids understanding of the recent, often dramatic, changes taking place in European politics.
