The papers in this volume were presented at three invited sessions
at the annual meeting of the Western Economic Association in Lake
Tahoe, Nevada on June 30 and July 1, 1998. The comments of the
speaker at each of these sessions are also included.
The papers focus on the widespread banking and financial crises
that have plagued many countries worldwide. A study by the
International Monetary Fund (Lindgren, Garcia, & Saal, 1996)
reported that banking crises had been experienced by nearly
three-quarters of its 180-plus member countries since 1980. And
this was before the current problems in Korea and Southeast Asia.
Only the African continent, where banking systems are generally
quite primitive, appears to have been unaffected.
The papers in this volume amplify on the evidence in this area for
additional countries; expand the earlier analyses; describe,
discuss, and evaluate alternative procedures for resolving bank
insolvencies and recapitalizing the banking system, and suggest
ways of maintaining bank solvency and preventing reoccurrences of
these costly crises.
The papers are timely, add considerably to our storehouse of
knowledge, and are likely to be of particular value to policy
makers, bankers, and fellow researchers.
General
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