Systemic Financial Crises

"Faced with a systemic financial sector crisis, policy makers need to make difficult choices under pressure. Based on the experience of many countries in recent years, few have been able to achieve a speedy, lasting, and low-cost resolution. This volume considers the strengths and weaknesses of the various policy options, covering both microeconomic (including recapitalization of banks, bank closures, subsidies for distressed borrowers, capital adequacy rules, and corporate governance and bankruptcy law requirements) and macroeconomic (including monetary and fiscal policy) dimensions."--Jacket.