Market phoenixes and banking ducks : are recoveries faster in market-based financial systems? /

Market phoenixes and banking ducks : are recoveries faster in market-based financial systems? /

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Bibliographic Details
Author / Creator:Allard, Julien, author.
Imprint:[Washington, D.C.] : International Monetary Fund, ©2011.
Description:1 online resource (27 pages).
Language:English
Series:IMF working paper, 2227-8885 ; WP/11/213
IMF working paper ; WP/11/213.
Subject:
Capital market -- Econometric models.
Banks and banking -- Econometric models.
Financial crises -- Econometric models.
Banks and banking -- Econometric models.
Capital market -- Econometric models.
Financial crises -- Econometric models.
Electronic books.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12499443
Hidden Bibliographic Details
Other authors / contributors:Blavy, Rodolphe, author.
International Monetary Fund. Office in Europe, issuing body.
ISBN:1283554119
9781283554114
9781463972967
1463972962
1463920482
9781463920487
Notes:At head of title: Offices in Europe.
Title from PDF title page (IMF Web site, viewed September 28, 2011).
"September 2011."
Includes bibliographical references.
Summary:Recoveries vary considerably across countries: our paper compares recoveries in bank-based and market-based economies and finds that market-based economies experience significantly and durably stronger rebounds than the bank-based ones (in particular the more bank-based economies of continental Europe). Further, stronger recoveries also tend to be associated with broader economic flexibility. Our findings suggest that dealing with bank sector vulnerabilities is paramount to support the recovery. In the medium term, structural policies to deepen financial markets are useful, but need to be complemented with structural measures to address rigidities more broadly in the real economy.
Other form:Print version: Allard, Julien. Market Phoenixes and Banking Ducks Are Recoveries Faster in Market-Based Financial Systems? Washington : International Monetary Fund, ©2011 9781463902292
Standard no.:10.5089/9781463920487.001

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