Proposed Decision to Modify the New Arrangements to Borrow
This paper examines cross-country perspectives on economies with large banking systems relative to GDP. As such economies tend to have domestic institutions with major foreign currency cross-border activities, strong links are generated between the health of the financial system and sovereign sustai...
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2010
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Online Access: | http://dx.doi.org/10.5089/9781498337618.007 |
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critmonetaryfund:10.5089/9781498337618.007 2024-06-09T07:47:10+00:00 Proposed Decision to Modify the New Arrangements to Borrow 2010 http://dx.doi.org/10.5089/9781498337618.007 en eng International Monetary Fund (IMF) Policy Papers volume 2010, issue 29 ISSN 2663-3493 journal-article 2010 critmonetaryfund https://doi.org/10.5089/9781498337618.007 2024-05-14T12:55:20Z This paper examines cross-country perspectives on economies with large banking systems relative to GDP. As such economies tend to have domestic institutions with major foreign currency cross-border activities, strong links are generated between the health of the financial system and sovereign sustainability. These links are of central interest to the paper. It does not cover off-shore centers as their international links tend to be relatively unrelated to domestic activities. To make the analysis more concrete, the experience of five economies—Hong Kong SAR, Iceland, Ireland, Singapore, and Switzerland—are featured (plus a Box on the Benelux region). These economies had large and relatively diversified international banking sectors compared to their fiscal capacity before the global financial crisis of 2007–09, and divergent experiences over the crisis. The paper analyzes the reasons for these outcomes. (A range of private and public sector individuals were interviewed during missions to Belgium, Hong Kong SAR, Ireland, Singapore, Switzerland, and the United Kingdom.) Article in Journal/Newspaper Iceland IMF Publications (International Monetary Fund) Policy Papers 2010 29 |
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Open Polar |
collection |
IMF Publications (International Monetary Fund) |
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critmonetaryfund |
language |
English |
description |
This paper examines cross-country perspectives on economies with large banking systems relative to GDP. As such economies tend to have domestic institutions with major foreign currency cross-border activities, strong links are generated between the health of the financial system and sovereign sustainability. These links are of central interest to the paper. It does not cover off-shore centers as their international links tend to be relatively unrelated to domestic activities. To make the analysis more concrete, the experience of five economies—Hong Kong SAR, Iceland, Ireland, Singapore, and Switzerland—are featured (plus a Box on the Benelux region). These economies had large and relatively diversified international banking sectors compared to their fiscal capacity before the global financial crisis of 2007–09, and divergent experiences over the crisis. The paper analyzes the reasons for these outcomes. (A range of private and public sector individuals were interviewed during missions to Belgium, Hong Kong SAR, Ireland, Singapore, Switzerland, and the United Kingdom.) |
format |
Article in Journal/Newspaper |
title |
Proposed Decision to Modify the New Arrangements to Borrow |
spellingShingle |
Proposed Decision to Modify the New Arrangements to Borrow |
title_short |
Proposed Decision to Modify the New Arrangements to Borrow |
title_full |
Proposed Decision to Modify the New Arrangements to Borrow |
title_fullStr |
Proposed Decision to Modify the New Arrangements to Borrow |
title_full_unstemmed |
Proposed Decision to Modify the New Arrangements to Borrow |
title_sort |
proposed decision to modify the new arrangements to borrow |
publisher |
International Monetary Fund (IMF) |
publishDate |
2010 |
url |
http://dx.doi.org/10.5089/9781498337618.007 |
genre |
Iceland |
genre_facet |
Iceland |
op_source |
Policy Papers volume 2010, issue 29 ISSN 2663-3493 |
op_doi |
https://doi.org/10.5089/9781498337618.007 |
container_title |
Policy Papers |
container_volume |
2010 |
container_issue |
29 |
_version_ |
1801378100877983744 |