A NATIONAL WEALTH APPROACH TO BANKING CRISES AND FINANCIAL STABILITY
Abstract
The article explores a different, supplementary way to assess and manage a particular type of banking crises, those arising from a rise of nonperforming loans to the corporate sector. It relies on a “national wealth approach”, focusing on the distribution of net wealth among economic sectors and its interaction with developments in the banking system. It identifies avenues for policy response optimization, based on an integrated macrofinancial analytical framework, both for the prevention and the resolution of these types of economic events.
About the Author
Olivier Frécaut
Monetary and capital markets department of the International Monetary Fund
Russian Federation
Russian Federation
Lead financial sector expert
(Washington, D.C.)
References
1. Allen M. et al. A balance sheet approach to financial crisis. IMF Working Paper 02/210. December 2002.
2. Bloem A.M., Gorter C.N. The treatment of nonperforming loans in macroeconomic statistics. IMF Working Paper 01/209. December 2001.
3. Durant D. et al. Towards completing the picture of financial activity in national accounts. Paper prepared for the April 16, 2015, session of the IARIW - OECD special conference: “W(h)ither the SNA?”. Paris, 2015. Available at: http://www.iariw.org/papers/2015/durantetal.pdf.
4. EC, IMF, OECD, UN, World Bank. System of National Accounts 2008. New York, 2009.
5. Frécaut O. Indonesia’s banking crisis: A new perspective on $50 billion of losses. Bulletin of Indonesian Economic Studies, 2004, vol. 40, iss. 1, pp. 37-57.
6. IMF Statistics Department. The system of macroeconomic accounts statistics: An overview. Pamphlet series no. 56. IMF, Washington, D.C., 2007.
7. IMF. Articles of agreement of the International Monetary Fund. Rev. 1993. IMF, Washington, D.C., 1993.
8. Laeven L., Valencia F. Systemic banking crisis database. IMF Economic Review, 2013, vol. 61, iss. 2, pp. 225-270.
Review
For citations:
Frécaut O. A NATIONAL WEALTH APPROACH TO BANKING CRISES AND FINANCIAL STABILITY. Voprosy statistiki. 2017;(2):68-82.
Views:
594
Email this article 