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Banking crises, sudden stops, and the effectiveness of short-term lending

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dc.contributor.author Chang, Chia-Ying
dc.date.accessioned 2013-09-24T02:10:33Z
dc.date.accessioned 2022-07-05T02:48:23Z
dc.date.available 2013
dc.date.available 2013-09-24T02:10:33Z
dc.date.available 2022-07-05T02:48:23Z
dc.date.copyright 2013
dc.date.issued 2013
dc.identifier.uri https://ir.wgtn.ac.nz/handle/123456789/18795
dc.description.abstract This paper sheds light on the linkages between banking crises and sudden stops and discusses the effectiveness of short-run lending in their prevention. It develops an overlapping generations framework and incorporates the possibilities of bank runs and moral hazard of financial intermediaries. Consequently, I find that the strategy to overcome liquidity problems could worsen banks’ positions and cause bank runs and sudden stops. A small liquidity shock may still lead to a banking crisis through the depositors’ expectation. A large shock would require short-run lending to prevent an immediate bank run, but the repayment obligation may worsen moral hazard problems. en_NZ
dc.format pdf en_NZ
dc.language.iso en_NZ
dc.publisher Te Herenga Waka—Victoria University of Wellington en_NZ
dc.relation.ispartofseries SEF Working Paper ; 07/2013 en_NZ
dc.rights.uri http://www.victoria.ac.nz/sef/research/sef-working-papers
dc.subject Banking crises en_NZ
dc.subject Sudden stops en_NZ
dc.subject Moral hazard en_NZ
dc.subject Short-run lending en_NZ
dc.subject Capital flows en_NZ
dc.title Banking crises, sudden stops, and the effectiveness of short-term lending en_NZ
dc.type Text en_NZ
vuwschema.contributor.unit School of Economics and Finance en_NZ
vuwschema.subject.anzsrcfor 140210 International Economics and International Finance en_NZ
vuwschema.type.vuw Working or Occasional Paper en_NZ
vuwschema.subject.anzsrcforV2 350207 International finance en_NZ
vuwschema.subject.anzsrcforV2 380110 International economics en_NZ
dc.rights.rightsholder http://www.victoria.ac.nz/sef/research/sef-working-papers en_NZ

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