Agenor, Pierre-Richard.
Financial sector inefficiencies and coordination failures implications for crisis management / Pierre-Richard Agenor, Joshua Aizenman. [electronic resource] : Pierre-Richard Agenor, Joshua Aizenman. - Washington, DC : World Bank, World Bank Institute, Economic Policy and Poverty Reduction, [1999] - 20, [3] p. : ill. ; 28 cm. - Policy research working paper ; 2185 . - Policy research working papers ; 2185. World Bank e-Library. .
"September 1999." Cover title.
Includes bibliographical references (p. 19-20).
In a country where financial intermediation is highly inefficient (with the enforcement costs of loan contracts very high, for example), or in one experiencing great volatility and large adverse shocks in output, the likelihood of an inefficient equilibrium is great. In East Asia it may be in the interests of both debtors and creditors to collectively reduce the face value of debt, to reduce inefficiencies in the financial sector.
00711629
Debt relief--East Asia.
Intermediation (Finance)--East Asia.
Debt--East Asia.
HG3881.5.W57 / P63 no. 2185
Financial sector inefficiencies and coordination failures implications for crisis management / Pierre-Richard Agenor, Joshua Aizenman. [electronic resource] : Pierre-Richard Agenor, Joshua Aizenman. - Washington, DC : World Bank, World Bank Institute, Economic Policy and Poverty Reduction, [1999] - 20, [3] p. : ill. ; 28 cm. - Policy research working paper ; 2185 . - Policy research working papers ; 2185. World Bank e-Library. .
"September 1999." Cover title.
Includes bibliographical references (p. 19-20).
In a country where financial intermediation is highly inefficient (with the enforcement costs of loan contracts very high, for example), or in one experiencing great volatility and large adverse shocks in output, the likelihood of an inefficient equilibrium is great. In East Asia it may be in the interests of both debtors and creditors to collectively reduce the face value of debt, to reduce inefficiencies in the financial sector.
00711629
Debt relief--East Asia.
Intermediation (Finance)--East Asia.
Debt--East Asia.
HG3881.5.W57 / P63 no. 2185