Lessons from World Bank Group Responses to Past Financial Crises
A worldwide financial crisis of enormous magnitude continues to unfold rapidly. Unlike other crises in recent decades, the current episode is rooted in industrial countries' financial systems and is affecting low-income and middle-income count...
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| Format: | Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/149131468339538525/Lessons-from-World-Bank-Group-responses-to-past-financial-crises http://hdl.handle.net/10986/28065 |
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okr-10986-28065 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English en_US |
| topic |
ACCOUNTABILITY ACCOUNTING ADVERSE EFFECTS ADVISORY SERVICES BALANCE SHEET BANK LENDING BANKING CRISES BANKING CRISIS BANKING INVESTMENTS BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BANKS BENEFICIARIES BID BONDHOLDERS BORROWING BROKER BUSINESS OPPORTUNITIES CAPACITY DEVELOPMENT CIVIL SERVICE CLIENT COUNTRY COMMERCIAL BANK COMMERCIAL BANK LOANS COMMERCIAL BANKS COMMERCIAL PAPER COMMERCIAL PAPER MARKETS CONFLICTS OF INTEREST CONSOLIDATION CONSUMER CONFIDENCE CONTINGENCY PLANS CORPORATE FINANCE CORPORATE GOVERNANCE COUNTRY CREDIT CREDIT BUREAUS CREDIT NEEDS CREDIT RATING CREDIT RATING AGENCIES CREDIT RATINGS CREDITOR CREDITORS CREDITS CRISIS COUNTRIES CRISIS LENDING DEBT DEBT ISSUES DEBTS DEFAULTS DEMONSTRATION EFFECTS DERIVATIVE DERIVATIVE INSTRUMENTS DEVALUATION DEVELOPING COUNTRIES DISBURSEMENTS DISTRESSED BANKS ECONOMIC CONDITIONS ECONOMIC CRISES ECONOMIC DIFFICULTIES ECONOMIC GROWTH EMERGING MARKETS EMPLOYMENT ENVIRONMENTAL PROTECTION EQUITY CAPITAL EQUITY FUND EQUITY FUNDING EQUITY FUNDS EQUITY INVESTMENT EQUITY INVESTMENTS EXCHANGE RATE EXPENDITURE EXPORT CREDITS EXPORT GROWTH EXPOSURE EXTERNAL DEBT EXTERNAL FINANCE EXTERNAL FINANCING EXTERNAL SHOCK FINANCE COMPANIES FINANCE CORPORATION FINANCIAL ASSISTANCE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DIFFICULTIES FINANCIAL DISTRESS FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL REFORMS FINANCIAL RESTRUCTURING FINANCIAL SECTOR FINANCIAL SECTOR ASSESSMENT FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTOR REFORM FINANCIAL SECTOR REFORMS FINANCIAL SECTORS FINANCIAL STRESS FINANCIAL SUPPORT FINANCIAL SYSTEMS FISCAL CONDITIONS FISCAL POLICY FISCAL REFORM FISCAL REFORMS FOREIGN BANK FOREIGN BANKS FOREIGN DEBT FOREIGN DEBTS FUTURES FUTURES CONTRACTS GLOBAL TRADE GOVERNANCE PRACTICES GOVERNMENT ACTION GROWTH OPPORTUNITIES GUARANTEE AGENCY HOST GOVERNMENTS HOUSEHOLDS ILLIQUIDITY INCOME INDUSTRIAL COUNTRIES INFRASTRUCTURE PROJECTS INSTITUTIONAL REFORM INSURANCE INTERNAL AUDIT INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL STANDARDS INTERNATIONAL TRADE INVESTMENT CLIMATE INVESTMENT LOAN INVESTMENT OPPORTUNITIES INVESTMENT PORTFOLIO LABOR MARKET LARGE BORROWERS LEGAL FRAMEWORK LIQUIDITY ASSISTANCE LOAN LOAN FINANCING LOAN LOSS PROVISIONS LOAN SYNDICATIONS LOCAL CURRENCY LOCAL MARKET LOW-INCOME COUNTRIES MACROECONOMIC CONDITIONS MACROECONOMIC CRISIS MACROECONOMIC POLICIES MACROECONOMIC POLICY MANAGEMENT INFORMATION SYSTEMS MARKET CONDITIONS MARKET CONFIDENCE MICROENTERPRISES MIDDLE-INCOME COUNTRIES MONETARY FUND MORTGAGES NEW BUSINESS NEW COMPANIES NUTRITION OPPORTUNITY COST OUTPUT OUTPUTS PENSION PENSION REFORM POLICY RESPONSE POLITICAL RISK PORTFOLIO PORTFOLIO QUALITY POVERTY ALLEVIATION PRIVATE FINANCING PRIVATE SECTOR DEVELOPMENT PRIVATIZATION PROTECTION MEASURES PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES RATING AGENCIES REAL ESTATE REAL SECTOR RECAPITALIZATION RECESSION REGIONAL BANKS REGULATORY CAPACITY REGULATORY INFRASTRUCTURE RENEGOTIATION RENEWABLE ENERGY REPUTATION RESERVES RETURN RISK MANAGEMENT RISK MITIGATION RISK PERCEPTIONS RISK TAKING SAFETY NET SHAREHOLDER SHAREHOLDERS SHORT-TERM FINANCE SHORT-TERM LIQUIDITY SMALL BORROWERS SOCIAL INVESTMENT SOCIAL PROTECTION SOCIAL SAFETY NET SOCIAL SAFETY NETS SOCIAL SECURITY SOURCES OF FINANCE STATE ENTERPRISES STRUCTURAL ADJUSTMENT SYSTEMIC RISKS TRACK RECORD TRADE FINANCE TRADE FINANCING TRADE LIBERALIZATION TRADING TRANSITION ECONOMIES TRANSPARENCY TREASURY UNEMPLOYMENT UNION |
| spellingShingle |
ACCOUNTABILITY ACCOUNTING ADVERSE EFFECTS ADVISORY SERVICES BALANCE SHEET BANK LENDING BANKING CRISES BANKING CRISIS BANKING INVESTMENTS BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BANKS BENEFICIARIES BID BONDHOLDERS BORROWING BROKER BUSINESS OPPORTUNITIES CAPACITY DEVELOPMENT CIVIL SERVICE CLIENT COUNTRY COMMERCIAL BANK COMMERCIAL BANK LOANS COMMERCIAL BANKS COMMERCIAL PAPER COMMERCIAL PAPER MARKETS CONFLICTS OF INTEREST CONSOLIDATION CONSUMER CONFIDENCE CONTINGENCY PLANS CORPORATE FINANCE CORPORATE GOVERNANCE COUNTRY CREDIT CREDIT BUREAUS CREDIT NEEDS CREDIT RATING CREDIT RATING AGENCIES CREDIT RATINGS CREDITOR CREDITORS CREDITS CRISIS COUNTRIES CRISIS LENDING DEBT DEBT ISSUES DEBTS DEFAULTS DEMONSTRATION EFFECTS DERIVATIVE DERIVATIVE INSTRUMENTS DEVALUATION DEVELOPING COUNTRIES DISBURSEMENTS DISTRESSED BANKS ECONOMIC CONDITIONS ECONOMIC CRISES ECONOMIC DIFFICULTIES ECONOMIC GROWTH EMERGING MARKETS EMPLOYMENT ENVIRONMENTAL PROTECTION EQUITY CAPITAL EQUITY FUND EQUITY FUNDING EQUITY FUNDS EQUITY INVESTMENT EQUITY INVESTMENTS EXCHANGE RATE EXPENDITURE EXPORT CREDITS EXPORT GROWTH EXPOSURE EXTERNAL DEBT EXTERNAL FINANCE EXTERNAL FINANCING EXTERNAL SHOCK FINANCE COMPANIES FINANCE CORPORATION FINANCIAL ASSISTANCE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DIFFICULTIES FINANCIAL DISTRESS FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL REFORMS FINANCIAL RESTRUCTURING FINANCIAL SECTOR FINANCIAL SECTOR ASSESSMENT FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTOR REFORM FINANCIAL SECTOR REFORMS FINANCIAL SECTORS FINANCIAL STRESS FINANCIAL SUPPORT FINANCIAL SYSTEMS FISCAL CONDITIONS FISCAL POLICY FISCAL REFORM FISCAL REFORMS FOREIGN BANK FOREIGN BANKS FOREIGN DEBT FOREIGN DEBTS FUTURES FUTURES CONTRACTS GLOBAL TRADE GOVERNANCE PRACTICES GOVERNMENT ACTION GROWTH OPPORTUNITIES GUARANTEE AGENCY HOST GOVERNMENTS HOUSEHOLDS ILLIQUIDITY INCOME INDUSTRIAL COUNTRIES INFRASTRUCTURE PROJECTS INSTITUTIONAL REFORM INSURANCE INTERNAL AUDIT INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL STANDARDS INTERNATIONAL TRADE INVESTMENT CLIMATE INVESTMENT LOAN INVESTMENT OPPORTUNITIES INVESTMENT PORTFOLIO LABOR MARKET LARGE BORROWERS LEGAL FRAMEWORK LIQUIDITY ASSISTANCE LOAN LOAN FINANCING LOAN LOSS PROVISIONS LOAN SYNDICATIONS LOCAL CURRENCY LOCAL MARKET LOW-INCOME COUNTRIES MACROECONOMIC CONDITIONS MACROECONOMIC CRISIS MACROECONOMIC POLICIES MACROECONOMIC POLICY MANAGEMENT INFORMATION SYSTEMS MARKET CONDITIONS MARKET CONFIDENCE MICROENTERPRISES MIDDLE-INCOME COUNTRIES MONETARY FUND MORTGAGES NEW BUSINESS NEW COMPANIES NUTRITION OPPORTUNITY COST OUTPUT OUTPUTS PENSION PENSION REFORM POLICY RESPONSE POLITICAL RISK PORTFOLIO PORTFOLIO QUALITY POVERTY ALLEVIATION PRIVATE FINANCING PRIVATE SECTOR DEVELOPMENT PRIVATIZATION PROTECTION MEASURES PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES RATING AGENCIES REAL ESTATE REAL SECTOR RECAPITALIZATION RECESSION REGIONAL BANKS REGULATORY CAPACITY REGULATORY INFRASTRUCTURE RENEGOTIATION RENEWABLE ENERGY REPUTATION RESERVES RETURN RISK MANAGEMENT RISK MITIGATION RISK PERCEPTIONS RISK TAKING SAFETY NET SHAREHOLDER SHAREHOLDERS SHORT-TERM FINANCE SHORT-TERM LIQUIDITY SMALL BORROWERS SOCIAL INVESTMENT SOCIAL PROTECTION SOCIAL SAFETY NET SOCIAL SAFETY NETS SOCIAL SECURITY SOURCES OF FINANCE STATE ENTERPRISES STRUCTURAL ADJUSTMENT SYSTEMIC RISKS TRACK RECORD TRADE FINANCE TRADE FINANCING TRADE LIBERALIZATION TRADING TRANSITION ECONOMIES TRANSPARENCY TREASURY UNEMPLOYMENT UNION Independent Evaluation Group Lessons from World Bank Group Responses to Past Financial Crises |
| relation |
Evaluation Brief;6 |
| description |
A worldwide financial crisis of enormous
magnitude continues to unfold rapidly. Unlike other crises
in recent decades, the current episode is rooted in
industrial countries' financial systems and is
affecting low-income and middle-income countries (MICs)
alike. Defaults on securitized sub-prime mortgages as a real
estate market bubble burst led to failures or near-failures
of several large financial institutions and a collapse of
inter-bank and commercial paper markets. A tightening of
credit, combined with declining consumer confidence, has
brought on worldwide recession with growing unemployment,
and many fear that the downturn will be severe and
protracted. At the same time, the rapidly multiplying signs
of contraction are prompting strong responses, including
fiscal stimulus packages and reductions in benchmark lending
rates, on the part of several of the affected developed
countries. The Bank Group is well placed to help mitigate
the impact of the current crisis with financing and advisory
services, and its clients are already requesting increased
support. A rapid, high-quality response that combines
financial and advisory support can do much to ease the
inevitable ramifications of the crisis. Lessons from
evaluations of previous Bank Group responses to past crises
can help inform the response to the current crisis in order
to increase its effectiveness. |
| format |
Working Paper |
| author |
Independent Evaluation Group |
| author_facet |
Independent Evaluation Group |
| author_sort |
Independent Evaluation Group |
| title |
Lessons from World Bank Group Responses to Past Financial Crises |
| title_short |
Lessons from World Bank Group Responses to Past Financial Crises |
| title_full |
Lessons from World Bank Group Responses to Past Financial Crises |
| title_fullStr |
Lessons from World Bank Group Responses to Past Financial Crises |
| title_full_unstemmed |
Lessons from World Bank Group Responses to Past Financial Crises |
| title_sort |
lessons from world bank group responses to past financial crises |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/149131468339538525/Lessons-from-World-Bank-Group-responses-to-past-financial-crises http://hdl.handle.net/10986/28065 |
| _version_ |
1764465669069340672 |
| spelling |
okr-10986-280652021-04-23T14:04:45Z Lessons from World Bank Group Responses to Past Financial Crises Independent Evaluation Group ACCOUNTABILITY ACCOUNTING ADVERSE EFFECTS ADVISORY SERVICES BALANCE SHEET BANK LENDING BANKING CRISES BANKING CRISIS BANKING INVESTMENTS BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKRUPTCY BANKS BENEFICIARIES BID BONDHOLDERS BORROWING BROKER BUSINESS OPPORTUNITIES CAPACITY DEVELOPMENT CIVIL SERVICE CLIENT COUNTRY COMMERCIAL BANK COMMERCIAL BANK LOANS COMMERCIAL BANKS COMMERCIAL PAPER COMMERCIAL PAPER MARKETS CONFLICTS OF INTEREST CONSOLIDATION CONSUMER CONFIDENCE CONTINGENCY PLANS CORPORATE FINANCE CORPORATE GOVERNANCE COUNTRY CREDIT CREDIT BUREAUS CREDIT NEEDS CREDIT RATING CREDIT RATING AGENCIES CREDIT RATINGS CREDITOR CREDITORS CREDITS CRISIS COUNTRIES CRISIS LENDING DEBT DEBT ISSUES DEBTS DEFAULTS DEMONSTRATION EFFECTS DERIVATIVE DERIVATIVE INSTRUMENTS DEVALUATION DEVELOPING COUNTRIES DISBURSEMENTS DISTRESSED BANKS ECONOMIC CONDITIONS ECONOMIC CRISES ECONOMIC DIFFICULTIES ECONOMIC GROWTH EMERGING MARKETS EMPLOYMENT ENVIRONMENTAL PROTECTION EQUITY CAPITAL EQUITY FUND EQUITY FUNDING EQUITY FUNDS EQUITY INVESTMENT EQUITY INVESTMENTS EXCHANGE RATE EXPENDITURE EXPORT CREDITS EXPORT GROWTH EXPOSURE EXTERNAL DEBT EXTERNAL FINANCE EXTERNAL FINANCING EXTERNAL SHOCK FINANCE COMPANIES FINANCE CORPORATION FINANCIAL ASSISTANCE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DIFFICULTIES FINANCIAL DISTRESS FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL REFORMS FINANCIAL RESTRUCTURING FINANCIAL SECTOR FINANCIAL SECTOR ASSESSMENT FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTOR REFORM FINANCIAL SECTOR REFORMS FINANCIAL SECTORS FINANCIAL STRESS FINANCIAL SUPPORT FINANCIAL SYSTEMS FISCAL CONDITIONS FISCAL POLICY FISCAL REFORM FISCAL REFORMS FOREIGN BANK FOREIGN BANKS FOREIGN DEBT FOREIGN DEBTS FUTURES FUTURES CONTRACTS GLOBAL TRADE GOVERNANCE PRACTICES GOVERNMENT ACTION GROWTH OPPORTUNITIES GUARANTEE AGENCY HOST GOVERNMENTS HOUSEHOLDS ILLIQUIDITY INCOME INDUSTRIAL COUNTRIES INFRASTRUCTURE PROJECTS INSTITUTIONAL REFORM INSURANCE INTERNAL AUDIT INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL STANDARDS INTERNATIONAL TRADE INVESTMENT CLIMATE INVESTMENT LOAN INVESTMENT OPPORTUNITIES INVESTMENT PORTFOLIO LABOR MARKET LARGE BORROWERS LEGAL FRAMEWORK LIQUIDITY ASSISTANCE LOAN LOAN FINANCING LOAN LOSS PROVISIONS LOAN SYNDICATIONS LOCAL CURRENCY LOCAL MARKET LOW-INCOME COUNTRIES MACROECONOMIC CONDITIONS MACROECONOMIC CRISIS MACROECONOMIC POLICIES MACROECONOMIC POLICY MANAGEMENT INFORMATION SYSTEMS MARKET CONDITIONS MARKET CONFIDENCE MICROENTERPRISES MIDDLE-INCOME COUNTRIES MONETARY FUND MORTGAGES NEW BUSINESS NEW COMPANIES NUTRITION OPPORTUNITY COST OUTPUT OUTPUTS PENSION PENSION REFORM POLICY RESPONSE POLITICAL RISK PORTFOLIO PORTFOLIO QUALITY POVERTY ALLEVIATION PRIVATE FINANCING PRIVATE SECTOR DEVELOPMENT PRIVATIZATION PROTECTION MEASURES PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES RATING AGENCIES REAL ESTATE REAL SECTOR RECAPITALIZATION RECESSION REGIONAL BANKS REGULATORY CAPACITY REGULATORY INFRASTRUCTURE RENEGOTIATION RENEWABLE ENERGY REPUTATION RESERVES RETURN RISK MANAGEMENT RISK MITIGATION RISK PERCEPTIONS RISK TAKING SAFETY NET SHAREHOLDER SHAREHOLDERS SHORT-TERM FINANCE SHORT-TERM LIQUIDITY SMALL BORROWERS SOCIAL INVESTMENT SOCIAL PROTECTION SOCIAL SAFETY NET SOCIAL SAFETY NETS SOCIAL SECURITY SOURCES OF FINANCE STATE ENTERPRISES STRUCTURAL ADJUSTMENT SYSTEMIC RISKS TRACK RECORD TRADE FINANCE TRADE FINANCING TRADE LIBERALIZATION TRADING TRANSITION ECONOMIES TRANSPARENCY TREASURY UNEMPLOYMENT UNION A worldwide financial crisis of enormous magnitude continues to unfold rapidly. Unlike other crises in recent decades, the current episode is rooted in industrial countries' financial systems and is affecting low-income and middle-income countries (MICs) alike. Defaults on securitized sub-prime mortgages as a real estate market bubble burst led to failures or near-failures of several large financial institutions and a collapse of inter-bank and commercial paper markets. A tightening of credit, combined with declining consumer confidence, has brought on worldwide recession with growing unemployment, and many fear that the downturn will be severe and protracted. At the same time, the rapidly multiplying signs of contraction are prompting strong responses, including fiscal stimulus packages and reductions in benchmark lending rates, on the part of several of the affected developed countries. The Bank Group is well placed to help mitigate the impact of the current crisis with financing and advisory services, and its clients are already requesting increased support. A rapid, high-quality response that combines financial and advisory support can do much to ease the inevitable ramifications of the crisis. Lessons from evaluations of previous Bank Group responses to past crises can help inform the response to the current crisis in order to increase its effectiveness. 2017-08-29T15:46:38Z 2017-08-29T15:46:38Z 2009 Working Paper http://documents.worldbank.org/curated/en/149131468339538525/Lessons-from-World-Bank-Group-responses-to-past-financial-crises http://hdl.handle.net/10986/28065 English en_US Evaluation Brief;6 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research |