How to Accelerate Corporate and Financial Sector Restructuring in East Asia
Resolving systemic banking and corporate distress is not easy. The large scale of the East Asian financial crisis has made the task even more daunting in Indonesia, the Republic of Korea, Malaysia, and Thailand. Two years into the process, bank and corporate restructuring is still a work in progress. Governments should act to accelerate it. Besides adopting common policy prescriptions - improving financial regulation, corporate governance, and bankruptcy procedures and shoring up banks' capital positions - governments could take three additional steps: Set up competitive, privately managed specialized funds, to hold nonperforming loans and depoliticize restructuring. Allow auctions as an alternative to negotiations, to speed debt restructuring. And allow employee ownership participation schemes, to reduce workers' resistance to changes in ownership.
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dig-okr-10986114522024-08-08T18:09:38Z How to Accelerate Corporate and Financial Sector Restructuring in East Asia Claessens, Stijn Djankov, Simeon Klingebiel, Daniela ACCOUNTING ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSET PRICE BUBBLE ASSET RECOVERY ASSETS AUCTION AUCTION PROCESS AUCTION SCHEME AUCTIONS BALANCE SHEET BALANCE SHEETS BANK OF JAPAN BANK RECAPITALIZATION BANKING CRISES BANKING SECTOR BANKING SYSTEM BANKRUPTCY BANKRUPTCY PROCEDURES BANKS CASH FLOWS COMMON POLICY CORPORATE CONTROL CORPORATE GOVERNANCE CORPORATE RESTRUCTURING CREDIT COOPERATIVES CREDIT DISCIPLINE CREDITOR PROTECTION CRISIS ECONOMIES CROSS-COUNTRY EXPERIENCE DEBT DEBT RESTRUCTURING DEBT SERVICING DEPOSIT GUARANTEES DEPOSIT INSURANCE DEPOSITORS DEPOSITS DEREGULATION DISCLOSURE EQUITY CAPITAL EQUITY MARKETS EXTENSIVE DEPOSIT GUARANTEES FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MANAGEMENT FINANCIAL REGULATION FINANCIAL RESTRUCTURING FORECLOSURE LAWS FOREIGN MANAGEMENT FOREIGN SALES FRAUDULENT ASSETS GAMBLING GUIDELINES INCENTIVE FRAMEWORK INSOLVENCY INSTITUTIONAL REFORM INTEREST RATES INVENTORY LABOR UNIONS LAND PRICES LAWS LIQUIDITY LOAN CLASSIFICATION LOAN LOSS PROVISIONS MARKET VALUE MATURITIES MERGERS MUTUAL FUNDS NATIONALIZATION NONBANK FINANCIAL INSTITUTIONS NONPERFORMING LOANS PAYOUT PORTFOLIO PORTFOLIOS PRESENT VALUE PROFITABILITY PUBLIC DEBT RECAPITALIZATION REORGANIZATION RETAINED EARNINGS RETIREMENT SAVINGS SECURITIES SHAREHOLDERS STATE OWNERSHIP STOCK MARKETS SUBORDINATED DEBT SUPERVISORY FRAMEWORK SWAPS TRANSPARENCY VENTURE CAPITAL CORPORATE RESTRUCTURING FINANCIAL SECTOR REFORM BANKING DISTRESS FINANCIAL CRISES ECONOMIC CRISIS CORPORATE GOVERNANCE DEBT RESTRUCTURING INVESTMENT FUNDS AUCTIONS PARTICIPATION OF STAKEHOLDERS EMPLOYEE OWNERSHIP CORPORATE DEBT Resolving systemic banking and corporate distress is not easy. The large scale of the East Asian financial crisis has made the task even more daunting in Indonesia, the Republic of Korea, Malaysia, and Thailand. Two years into the process, bank and corporate restructuring is still a work in progress. Governments should act to accelerate it. Besides adopting common policy prescriptions - improving financial regulation, corporate governance, and bankruptcy procedures and shoring up banks' capital positions - governments could take three additional steps: Set up competitive, privately managed specialized funds, to hold nonperforming loans and depoliticize restructuring. Allow auctions as an alternative to negotiations, to speed debt restructuring. And allow employee ownership participation schemes, to reduce workers' resistance to changes in ownership. 2012-08-13T15:06:37Z 2012-08-13T15:06:37Z 1999-11 http://documents.worldbank.org/curated/en/1999/11/439479/accelerate-corporate-financial-sector-restructuring-east-asia https://hdl.handle.net/10986/11452 English Viewpoint: Public Policy for the Private Sector; Note No. 200 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank application/pdf text/plain World Bank, Washington, DC |
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Banco Mundial |
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Estados Unidos |
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US |
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Bibliográfico |
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En linea |
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dig-okr |
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biblioteca |
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America del Norte |
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Biblioteca del Banco Mundial |
| language |
English |
| topic |
ACCOUNTING ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSET PRICE BUBBLE ASSET RECOVERY ASSETS AUCTION AUCTION PROCESS AUCTION SCHEME AUCTIONS BALANCE SHEET BALANCE SHEETS BANK OF JAPAN BANK RECAPITALIZATION BANKING CRISES BANKING SECTOR BANKING SYSTEM BANKRUPTCY BANKRUPTCY PROCEDURES BANKS CASH FLOWS COMMON POLICY CORPORATE CONTROL CORPORATE GOVERNANCE CORPORATE RESTRUCTURING CREDIT COOPERATIVES CREDIT DISCIPLINE CREDITOR PROTECTION CRISIS ECONOMIES CROSS-COUNTRY EXPERIENCE DEBT DEBT RESTRUCTURING DEBT SERVICING DEPOSIT GUARANTEES DEPOSIT INSURANCE DEPOSITORS DEPOSITS DEREGULATION DISCLOSURE EQUITY CAPITAL EQUITY MARKETS EXTENSIVE DEPOSIT GUARANTEES FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MANAGEMENT FINANCIAL REGULATION FINANCIAL RESTRUCTURING FORECLOSURE LAWS FOREIGN MANAGEMENT FOREIGN SALES FRAUDULENT ASSETS GAMBLING GUIDELINES INCENTIVE FRAMEWORK INSOLVENCY INSTITUTIONAL REFORM INTEREST RATES INVENTORY LABOR UNIONS LAND PRICES LAWS LIQUIDITY LOAN CLASSIFICATION LOAN LOSS PROVISIONS MARKET VALUE MATURITIES MERGERS MUTUAL FUNDS NATIONALIZATION NONBANK FINANCIAL INSTITUTIONS NONPERFORMING LOANS PAYOUT PORTFOLIO PORTFOLIOS PRESENT VALUE PROFITABILITY PUBLIC DEBT RECAPITALIZATION REORGANIZATION RETAINED EARNINGS RETIREMENT SAVINGS SECURITIES SHAREHOLDERS STATE OWNERSHIP STOCK MARKETS SUBORDINATED DEBT SUPERVISORY FRAMEWORK SWAPS TRANSPARENCY VENTURE CAPITAL CORPORATE RESTRUCTURING FINANCIAL SECTOR REFORM BANKING DISTRESS FINANCIAL CRISES ECONOMIC CRISIS CORPORATE GOVERNANCE DEBT RESTRUCTURING INVESTMENT FUNDS AUCTIONS PARTICIPATION OF STAKEHOLDERS EMPLOYEE OWNERSHIP CORPORATE DEBT ACCOUNTING ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSET PRICE BUBBLE ASSET RECOVERY ASSETS AUCTION AUCTION PROCESS AUCTION SCHEME AUCTIONS BALANCE SHEET BALANCE SHEETS BANK OF JAPAN BANK RECAPITALIZATION BANKING CRISES BANKING SECTOR BANKING SYSTEM BANKRUPTCY BANKRUPTCY PROCEDURES BANKS CASH FLOWS COMMON POLICY CORPORATE CONTROL CORPORATE GOVERNANCE CORPORATE RESTRUCTURING CREDIT COOPERATIVES CREDIT DISCIPLINE CREDITOR PROTECTION CRISIS ECONOMIES CROSS-COUNTRY EXPERIENCE DEBT DEBT RESTRUCTURING DEBT SERVICING DEPOSIT GUARANTEES DEPOSIT INSURANCE DEPOSITORS DEPOSITS DEREGULATION DISCLOSURE EQUITY CAPITAL EQUITY MARKETS EXTENSIVE DEPOSIT GUARANTEES FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MANAGEMENT FINANCIAL REGULATION FINANCIAL RESTRUCTURING FORECLOSURE LAWS FOREIGN MANAGEMENT FOREIGN SALES FRAUDULENT ASSETS GAMBLING GUIDELINES INCENTIVE FRAMEWORK INSOLVENCY INSTITUTIONAL REFORM INTEREST RATES INVENTORY LABOR UNIONS LAND PRICES LAWS LIQUIDITY LOAN CLASSIFICATION LOAN LOSS PROVISIONS MARKET VALUE MATURITIES MERGERS MUTUAL FUNDS NATIONALIZATION NONBANK FINANCIAL INSTITUTIONS NONPERFORMING LOANS PAYOUT PORTFOLIO PORTFOLIOS PRESENT VALUE PROFITABILITY PUBLIC DEBT RECAPITALIZATION REORGANIZATION RETAINED EARNINGS RETIREMENT SAVINGS SECURITIES SHAREHOLDERS STATE OWNERSHIP STOCK MARKETS SUBORDINATED DEBT SUPERVISORY FRAMEWORK SWAPS TRANSPARENCY VENTURE CAPITAL CORPORATE RESTRUCTURING FINANCIAL SECTOR REFORM BANKING DISTRESS FINANCIAL CRISES ECONOMIC CRISIS CORPORATE GOVERNANCE DEBT RESTRUCTURING INVESTMENT FUNDS AUCTIONS PARTICIPATION OF STAKEHOLDERS EMPLOYEE OWNERSHIP CORPORATE DEBT |
| spellingShingle |
ACCOUNTING ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSET PRICE BUBBLE ASSET RECOVERY ASSETS AUCTION AUCTION PROCESS AUCTION SCHEME AUCTIONS BALANCE SHEET BALANCE SHEETS BANK OF JAPAN BANK RECAPITALIZATION BANKING CRISES BANKING SECTOR BANKING SYSTEM BANKRUPTCY BANKRUPTCY PROCEDURES BANKS CASH FLOWS COMMON POLICY CORPORATE CONTROL CORPORATE GOVERNANCE CORPORATE RESTRUCTURING CREDIT COOPERATIVES CREDIT DISCIPLINE CREDITOR PROTECTION CRISIS ECONOMIES CROSS-COUNTRY EXPERIENCE DEBT DEBT RESTRUCTURING DEBT SERVICING DEPOSIT GUARANTEES DEPOSIT INSURANCE DEPOSITORS DEPOSITS DEREGULATION DISCLOSURE EQUITY CAPITAL EQUITY MARKETS EXTENSIVE DEPOSIT GUARANTEES FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MANAGEMENT FINANCIAL REGULATION FINANCIAL RESTRUCTURING FORECLOSURE LAWS FOREIGN MANAGEMENT FOREIGN SALES FRAUDULENT ASSETS GAMBLING GUIDELINES INCENTIVE FRAMEWORK INSOLVENCY INSTITUTIONAL REFORM INTEREST RATES INVENTORY LABOR UNIONS LAND PRICES LAWS LIQUIDITY LOAN CLASSIFICATION LOAN LOSS PROVISIONS MARKET VALUE MATURITIES MERGERS MUTUAL FUNDS NATIONALIZATION NONBANK FINANCIAL INSTITUTIONS NONPERFORMING LOANS PAYOUT PORTFOLIO PORTFOLIOS PRESENT VALUE PROFITABILITY PUBLIC DEBT RECAPITALIZATION REORGANIZATION RETAINED EARNINGS RETIREMENT SAVINGS SECURITIES SHAREHOLDERS STATE OWNERSHIP STOCK MARKETS SUBORDINATED DEBT SUPERVISORY FRAMEWORK SWAPS TRANSPARENCY VENTURE CAPITAL CORPORATE RESTRUCTURING FINANCIAL SECTOR REFORM BANKING DISTRESS FINANCIAL CRISES ECONOMIC CRISIS CORPORATE GOVERNANCE DEBT RESTRUCTURING INVESTMENT FUNDS AUCTIONS PARTICIPATION OF STAKEHOLDERS EMPLOYEE OWNERSHIP CORPORATE DEBT ACCOUNTING ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSET PRICE BUBBLE ASSET RECOVERY ASSETS AUCTION AUCTION PROCESS AUCTION SCHEME AUCTIONS BALANCE SHEET BALANCE SHEETS BANK OF JAPAN BANK RECAPITALIZATION BANKING CRISES BANKING SECTOR BANKING SYSTEM BANKRUPTCY BANKRUPTCY PROCEDURES BANKS CASH FLOWS COMMON POLICY CORPORATE CONTROL CORPORATE GOVERNANCE CORPORATE RESTRUCTURING CREDIT COOPERATIVES CREDIT DISCIPLINE CREDITOR PROTECTION CRISIS ECONOMIES CROSS-COUNTRY EXPERIENCE DEBT DEBT RESTRUCTURING DEBT SERVICING DEPOSIT GUARANTEES DEPOSIT INSURANCE DEPOSITORS DEPOSITS DEREGULATION DISCLOSURE EQUITY CAPITAL EQUITY MARKETS EXTENSIVE DEPOSIT GUARANTEES FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MANAGEMENT FINANCIAL REGULATION FINANCIAL RESTRUCTURING FORECLOSURE LAWS FOREIGN MANAGEMENT FOREIGN SALES FRAUDULENT ASSETS GAMBLING GUIDELINES INCENTIVE FRAMEWORK INSOLVENCY INSTITUTIONAL REFORM INTEREST RATES INVENTORY LABOR UNIONS LAND PRICES LAWS LIQUIDITY LOAN CLASSIFICATION LOAN LOSS PROVISIONS MARKET VALUE MATURITIES MERGERS MUTUAL FUNDS NATIONALIZATION NONBANK FINANCIAL INSTITUTIONS NONPERFORMING LOANS PAYOUT PORTFOLIO PORTFOLIOS PRESENT VALUE PROFITABILITY PUBLIC DEBT RECAPITALIZATION REORGANIZATION RETAINED EARNINGS RETIREMENT SAVINGS SECURITIES SHAREHOLDERS STATE OWNERSHIP STOCK MARKETS SUBORDINATED DEBT SUPERVISORY FRAMEWORK SWAPS TRANSPARENCY VENTURE CAPITAL CORPORATE RESTRUCTURING FINANCIAL SECTOR REFORM BANKING DISTRESS FINANCIAL CRISES ECONOMIC CRISIS CORPORATE GOVERNANCE DEBT RESTRUCTURING INVESTMENT FUNDS AUCTIONS PARTICIPATION OF STAKEHOLDERS EMPLOYEE OWNERSHIP CORPORATE DEBT Claessens, Stijn Djankov, Simeon Klingebiel, Daniela How to Accelerate Corporate and Financial Sector Restructuring in East Asia |
| description |
Resolving systemic banking and corporate
distress is not easy. The large scale of the East Asian
financial crisis has made the task even more daunting in
Indonesia, the Republic of Korea, Malaysia, and Thailand.
Two years into the process, bank and corporate restructuring
is still a work in progress. Governments should act to
accelerate it. Besides adopting common policy prescriptions
- improving financial regulation, corporate governance, and
bankruptcy procedures and shoring up banks' capital
positions - governments could take three additional steps:
Set up competitive, privately managed specialized funds, to
hold nonperforming loans and depoliticize restructuring.
Allow auctions as an alternative to negotiations, to speed
debt restructuring. And allow employee ownership
participation schemes, to reduce workers' resistance to
changes in ownership. |
| topic_facet |
ACCOUNTING ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSET PRICE BUBBLE ASSET RECOVERY ASSETS AUCTION AUCTION PROCESS AUCTION SCHEME AUCTIONS BALANCE SHEET BALANCE SHEETS BANK OF JAPAN BANK RECAPITALIZATION BANKING CRISES BANKING SECTOR BANKING SYSTEM BANKRUPTCY BANKRUPTCY PROCEDURES BANKS CASH FLOWS COMMON POLICY CORPORATE CONTROL CORPORATE GOVERNANCE CORPORATE RESTRUCTURING CREDIT COOPERATIVES CREDIT DISCIPLINE CREDITOR PROTECTION CRISIS ECONOMIES CROSS-COUNTRY EXPERIENCE DEBT DEBT RESTRUCTURING DEBT SERVICING DEPOSIT GUARANTEES DEPOSIT INSURANCE DEPOSITORS DEPOSITS DEREGULATION DISCLOSURE EQUITY CAPITAL EQUITY MARKETS EXTENSIVE DEPOSIT GUARANTEES FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MANAGEMENT FINANCIAL REGULATION FINANCIAL RESTRUCTURING FORECLOSURE LAWS FOREIGN MANAGEMENT FOREIGN SALES FRAUDULENT ASSETS GAMBLING GUIDELINES INCENTIVE FRAMEWORK INSOLVENCY INSTITUTIONAL REFORM INTEREST RATES INVENTORY LABOR UNIONS LAND PRICES LAWS LIQUIDITY LOAN CLASSIFICATION LOAN LOSS PROVISIONS MARKET VALUE MATURITIES MERGERS MUTUAL FUNDS NATIONALIZATION NONBANK FINANCIAL INSTITUTIONS NONPERFORMING LOANS PAYOUT PORTFOLIO PORTFOLIOS PRESENT VALUE PROFITABILITY PUBLIC DEBT RECAPITALIZATION REORGANIZATION RETAINED EARNINGS RETIREMENT SAVINGS SECURITIES SHAREHOLDERS STATE OWNERSHIP STOCK MARKETS SUBORDINATED DEBT SUPERVISORY FRAMEWORK SWAPS TRANSPARENCY VENTURE CAPITAL CORPORATE RESTRUCTURING FINANCIAL SECTOR REFORM BANKING DISTRESS FINANCIAL CRISES ECONOMIC CRISIS CORPORATE GOVERNANCE DEBT RESTRUCTURING INVESTMENT FUNDS AUCTIONS PARTICIPATION OF STAKEHOLDERS EMPLOYEE OWNERSHIP CORPORATE DEBT |
| author |
Claessens, Stijn Djankov, Simeon Klingebiel, Daniela |
| author_facet |
Claessens, Stijn Djankov, Simeon Klingebiel, Daniela |
| author_sort |
Claessens, Stijn |
| title |
How to Accelerate Corporate and Financial Sector Restructuring in East Asia |
| title_short |
How to Accelerate Corporate and Financial Sector Restructuring in East Asia |
| title_full |
How to Accelerate Corporate and Financial Sector Restructuring in East Asia |
| title_fullStr |
How to Accelerate Corporate and Financial Sector Restructuring in East Asia |
| title_full_unstemmed |
How to Accelerate Corporate and Financial Sector Restructuring in East Asia |
| title_sort |
how to accelerate corporate and financial sector restructuring in east asia |
| publisher |
World Bank, Washington, DC |
| publishDate |
1999-11 |
| url |
http://documents.worldbank.org/curated/en/1999/11/439479/accelerate-corporate-financial-sector-restructuring-east-asia https://hdl.handle.net/10986/11452 |
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| _version_ |
1807154752101810176 |