Title Financial crisis, economic recovery, and banking development in Russia, Ukraine, and other FSU countries / prepared by Haizhou Huang, Dalia Marin, and Chenggang Xu

Published [Washington D.C.] : International Monetary Fund, ©2004

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Description 1 online resource (35 pages) Series IMF working paper ; WP/04/105 IMF working paper ; WP/04/105. Summary This paper provides a unified analysis for the onset of the 1998 financial crisis and the strong economic recovery afterward in Russia and other former Soviet Union countries. Before the crisis a banking failure arose owing to the coexistence of a lemons credit market and high government borrowing. In a lemons credit market low credit risk firms switched from bank to nonbank finance, including trade credits and barter trade, generating an externality on banks' interest rates. The collapse of the treasury bills market in the financial crisis triggered a change in banks' lending behavior, providing initial conditions for banking development Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Banks and banking. Financial crises Banks and banking -- Former Soviet republics Financial crises -- Former Soviet republics Banks and banking Financial crises Soviet Union -- Former Soviet republics Form Electronic book Author Marin, Dalia, author. Xu, Chenggang, author. International Monetary Fund. Monetary and Financial Systems Department, issuing body. ISBN 1281602027 9781281602022

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