Stijn Claessens, Thomas Glaessner, Daniela Klingebiel
Foreword v Abstract vii Acknowledgments ix
Systemic Banking Crises (2007)
Gerard Caprio, Daniela Klingebiel, East Asia
The following table presents information on 117 systemic banking crises (defined as much or all of bank capital being exhausted) that have occurred in 93 countries since the late 1970s. The table...
Stijn Claessens, Daniela Klingebiel, Sergio Schmukler
The development of government bond markets and in particular their currency composition have recently received much interest, partly because of their relation with financial crises. This paper...
Stijn Claessens, Stijn Claessens, Daniela Klingebiel, Daniela Klingebiel, Sergio Schmukler, Sergio Schmukler, ...
This Discussion Paper is issued under the auspices of the Centre’s research programme in FINANCIAL ECONOMICS. Any opinions expressed here are those of the author(s) and not those of the Centre for...
Stijn Claessens, Stijn Claessens, Daniela Klingebiel, Daniela Klingebiel, Sergio Schmukler, Sergio Schmukler, ...
www.cepr.org Available online at: www.cepr.org/pubs/dps/DP3789.asp www.ssrn.com/xxx/xxx/xxx
Stijn Claessens, Daniela Klingebiel, Sergio L. Schmukler
We study the determinants of stock market development and the growing migration of capital raising, listing, and trading activity to international exchanges. Economies with better fundamentals have...
Gerard Caprio, Daniela Klingebiel
Few areas of the world have escaped significant losses In a companion paper (Caprio and Klingebiel, "Bank from episodes of bank insolvency. Bank insolvency is Insolvency: Bad Luck, Bad...
Wink and Karl-Heinz Hillen from the German Bundesbank, Joergen Bang from the (2007)
Thorsten Beck, German Bank Association, Charles Calomiris, Gerard Caprio, Aslı Demirgüç-kunt, Udo Franke, ...
Abstract: This paper describes and evaluates the deposit insurance scheme set up by private commercial banks in Germany in 1975. Unlike schemes in other countries, its funding and management is...
Financial Crises, Financial Dependence, and Industry Growth (2007)
Luc Laeven, Daniela Klingebiel, Y Kroszner
This paper investigates the linkage between financial crises and industry growth. We analyze data from 19 developed and developing countries that have experienced financial crises during the last 30...
Stock Market Responses to Bank Restructuring Policies during the East Asian Crisis (2007)
Daniela Klingebiel, Randy Kroszner, Luc Laeven, Pieter Van Oijen
This paper studies the effects of financial restructuring announcements on short-term stock returns of banks and non-financial companies during the East Asian crisis. We find that the prices of bank...
Stijn Claessens, Daniela Klingebiel, World Bank
Contingent government liabilities in the banking sector arise from explicit government
Decentralized Creditor-Led Corporate Restructuring Cross-Country Experience By (2007)
Marinela E. Dado, Daniela Klingebiel
Countries that have experienced banking crises have adopted one of two distinct approaches toward the resolution of non-performing assets—a centralized or a decentralized solution. The former...
a. Macro-Imbalances and the Macro-Stabilization Program of 1984–87 (2007)
Leonardo Hernandez, Daniela Klingebiel, Gerard Caprio, Simeon Djankov, Swati R. Ghosh
(*) World Bank and (**) Central Bank of Chile. Valuable comments were received from
Patrick Honohan, Daniela Klingebiel, Gerard Caprio, Stijn Claessens, Asli Demirguç-kunt, ...
In recent decades, a majority of countries—rich and poor alike—have experienced a systemic banking crisis requiring a major—and expensive—overhaul of their banking system. Not only do banking...
The Future of Stock Exchanges in Emerging Economies: Evolution and Prospects (2002)
Claessens, Stijn., Klingebiel, Daniela., Schmukler, Sergio L.
Brookings-Wharton Papers on Financial Services - 2002
Competition and Scope of Activities in Financial Services (2001)
Stijn Claessens, Daniela Klingebiel
This article analyzes the costs and benefits of different degrees of competition and different configurations of permissible activities in the financial sector and discusses the related implications...
Is the Crisis Problem Growing More Severe (2001)
Michael Bordo, Barry Eichengreen, Daniela Klingebiel
The crisis problem is one of the dominant macroeconomic features of our age. Its prominence suggests questions like the following: Are crises growing more frequent? Are they becoming more disruptive?...
Stijn Claessens, Thomas Glaessner, Daniela Klingebiel
The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors and should not be attributed in any manner to the World Bank, to its affiliated organizations,...
Competition and Scope of Activities in Financial Services (2001)
Claessens, Stijn, Klingebiel, Daniela
This article analyzes the costs and benefits of different degrees of competition and different configurations of permissible activities in the financial sector and discusses the related implications...
Episodes of Systemic and Borderline Financial Crises (1999)
Gerard Caprio, Daniela Klingebiel
The following table presents information on 113 systemic banking crises (defined as much or all of bank capital being exhausted) that have occurred in 93 countries since the late 1970s. The table...
Bank Insolvency: Bad Luck, Bad Policy or Bad Banking (1997)
Gerard Caprio, Daniela Klingebiel
Since the late 1970s bank insolvencies have become increasingly common. Where these failures are systemic, they can drain a country's financial, institutional, and policy resources—resulting...
Bank insolvencies : cross-country experience
Caprio, Gerard Jr., Klingebiel, Daniela
Few areas of the world have escaped significant losses from episodes of bank insolvency. Bank insolvency is more costly in the developing world, where losses represent a greater share of income. The...
Stock market responses to bank restructuring policies during the East Asian crisis
Klingebiel, Daniela, Kroszner, Randy, Laeven, Luc, Van Oijen, Pieter
The East Asian crisis began in Thailand in mid-1997 when an ailing financial sector, a slowdown in exports, and large increases in central bank credit to weak financial institutions, triggered a run...
Banking Crises, Financial Dependence and Growth
Klingebiel, Daniela, Kroszner, Randall S, Laeven, Luc
This paper investigates the growth impact of banking crises on industries with different levels of dependence on external sources of finance to analyze the mechanisms linking financial shocks and...
Claessens, Stijn, Klingebiel, Daniela, Schmukler, Sergio
The development of government bond markets and, in particular, their currency composition have recently received much interest, partly because of their relation with financial crises. The authors...
Why infrastructure financing facilities often fall short of their objectives
Klingebiel, Daniela, Ruster, Jeff
To encourage the private funding and provision of infrastructure services, governments have used specialized financing facilities to offer financial support to investors, often in the form of grants,...
Controlling the fiscal costs of banking crises
Honohan, Patrick, Klingebiel, Daniela
In recent decades, a majority of countries have experienced a systemic banking crisis requiring a major-and expensive-overhaul of their banking system. Not only do banking crises hit the budget with...
Financial liberalization and the capital account : Thailand, 1988-97
Alba, Pedro, Hernandez, Leonardo, Klingebiel, Daniela
The authors examine Thailand's macro-economy and micro-economy for the period 1988-97 to assess the extent to which the country's mix of macroeconomic and financial sector policies contributed to its...
Alternative frameworks for providing financial services
Claessens, Stijn, Klingebiel, Daniela
Drawing on country experience, the authors analyze alternative frameworks for providing financial services. Scope of permissible activities: The integrated banking model (commercial banking fully...
The use of asset management companies in the resolution of banking crises - cross-country experience
Asset management companies have been used to address the overhang of bad debt in the financial system. There are two main types of asset management company: those set up to expedite corporate...
Explaining the migration of stocks from exchanges in emerging economies to international centers
Claessens, Stijn, Klingebiel, Daniela, Schmukler, Sergio L.
The authors study the determinants of the growing migration of stock market activity to international financial centers. They use a sample of 77 countries and document that higher economic growth and...
Financial crises, financial dependence, and industry growth
Laeven, Luc, Klingebiel, Daniela, Kroszner, Randy
The authors investigate the link between financial crises and industry growth. They analyze data from 19 industrial and developing countries that have experienced financial crises during the past 30...
Decentralized credtor-led corporate restructuring - cross-country experience
Dado, Marinela E., Klingebiel, Daniela
Countries that have experienced banking crises have adopted oneof two distinct approaches toward the resolution of non-performing assets-a centralized or a decentralized solution. A centralized...
Resolving systemic financial crisis : policies and institutions
Claessens,Constantijn A., Klingebiel, Daniela, Laeven, Luc
The authors analyze the role of institutions in resolving systemic banking crises for a broad sample of countries. Banking crises are fiscally costly, especially when policies like substantial...
A taxonomy of financial crisis resolution mechanisms : cross-country experience
Calomiris, Charles W, Klingebiel, Daniela, Laeven, Luc
The goals of financial restructuring are to re-establish the creditor-debtor relationships upon which the economy depends for an efficient allocation of capital, and to accomplish that objective at...
Government Bonds in Domestic and Foreign Currency The Role of Institutional Factors
Stijn Claessens, Daniela Klingebiel, Sergio L Schmukler
This paper studies how institutional factors affect the size and currency composition of government bonds for a large sample of economies. Important for the debate on limiting financial crises, we...
Electronic Finance: Reshaping the Financial Landscape Around the World
Stijn Claessens, Thomas Glaessner, Daniela Klingebiel
E-finance, financial sector development, developing countries, financial sector regulation.,
Stijn Claessens, Daniela Klingebiel, Sergio L. Schmukler
In contrast to some recent research, this paper finds that institutional and macroeconomic factors are related to the depth and currency composition of government bond markets. Using panel data for...
Explaining the Migration of Stocks from Exchanges in Emerging Economies to International Centres
Claessens, Stijn, Klingebiel, Daniela, Schmukler, Sergio
We study the determinants of stock market development and the growing migration of capital raising, listing and trading activity to international exchanges. Economies with higher income per capita,...
Controlling fiscal costs of banking crises
Patrick Honohan, Daniela Klingebiel
Bank failures ; Financial crises
Claessens, Stijn, Klingebiel, Daniela, Schmukler, Sergio
The development of government bond markets and, in particular, their currency composition have recently received much interest, partly because of their relation with financial crises. This Paper...
Financial Restructuring in Banking and Corporate Sector Crises: What Policies to Pursue?
Stijn Claessens, Daniela Klingebiel, Luc Laeven
We review the literature on resolving bank and corporate sector crises to identify government policies that affect the depth of a crisis and the ease and sustainability of recovery, and to analyze...
The Future of Stock Exchanges in Emerging Economies: Evolution and Prosepcts
Stijn Claessens, Daniela Klingebiel, Sergio L. Schmukler
We study the determinants of stock market development and the growing migration of capital raising, listing, and trading activity to international exchanges. Economies with better fundamentals have...
Developments in global e-finance
Claessens, Stijn, Glaessner, Tom, Klingebiel, Daniela
This paper provides an overview of the recent developments in electronic commerce and assesses how they impact the traditional financial services businesses. Focusing primarily on emerging markets,...