| 来源类型 | Working Paper
|
| 规范类型 | 报告
|
| DOI | 10.3386/w7042
|
| 来源ID | Working Paper 7042
|
| The Role of Bank Restructuring in Recovering from Crises: Mexico 1995-98 |
| Anne Krueger; Aaron Tornell
|
| 发表日期 | 1999-03-01
|
| 出版年 | 1999
|
| 语种 | 英语
|
| 摘要 | In this paper we analyze the evolution of the Mexican economy between 1995 and 1998. The remarkable quick recovery seen in aggregate activity has not been uniform across the economy. The tradable sector has grown strongly, while the non-tradable sector has recuperated only sluggishly. This asymmetric response is intimately linked with the severe credit crunch that Mexico has experienced since 1995. Although fresh domestic bank lending dried up, tradable firms obtained financing in the international capital market. This was not the case in the non-tradable sector. A phenomenon that has gone hand in hand with the credit crunch is the steady increase in the share of non-performing loans. We analyze the reasons for this increase, the rationale for the partial bailout policy adopted in 1995, and we investigate why this policy stance did not solve the banking problem. An important lesson is that non-performing loans are unlikely to disappear on their own, even under a high GDP growth scenario. Furthermore, the existence of non-performing loans presents an obstacle for the banking system to adequately perform its functions. This raises the question of whether an alternative strategy under which all non-performing loans were recognized at once and the fiscal costs were all paid up-front would have been preferable. |
| URL | https://www.nber.org/papers/w7042
|
| 来源智库 | National Bureau of Economic Research (United States)
|
| 引用统计 |
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/564564
|
推荐引用方式
GB/T 7714 |
Anne Krueger,Aaron Tornell. The Role of Bank Restructuring in Recovering from Crises: Mexico 1995-98. 1999.
|
|
文件名：
|
w7042.pdf
|
|
格式：
|
Adobe PDF
|
此文件暂不支持浏览
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
