Enoch, Charles

Frècaut, Olivier

Kovanen, Arto

Yale University

Yale University EliScholar – A Digital Platform for Scholarly Publishing at Yale YPFS Documents (Series 1) Browse by Media Type 2003 INDONESIA'S BANKING CRISIS: WHAT HAPPENED AND WHAT DID WE LEARN? Charles Enoch Olivier Frècaut Arto Kovanen Follow this and additional works at: https://elischolar.library.yale.edu/ypfs-documents Recommended Citation Enoch, Charles; Frècaut, Olivier; and Kovanen, Arto, "INDONESIA'S BANKING CRISIS: WHAT HAPPENED AND WHAT DID WE LEARN?" (2003). YPFS Documents (Series 1). 10888. https://elischolar.library.yale.edu/ypfs-documents/10888 This Document is brought to you for free and open access by the Browse by Media Type at EliScholar – A Digital Platform for Scholarly Publishing at Yale. It has been accepted for inclusion in YPFS Documents (Series 1) by an authorized administrator of EliScholar – A Digital Platform for Scholarly Publishing at Yale. For more information, please contact elischolar@yale.edu. Bulletin of Indonesian Economic Studies  2003 INDONESIA'S BANKING CRISIS: WHAT HAPPENED AND WHAT DID WE LEARN?  Charles Enoch Olivier Frécaut Arto Kovanen  Summary This article traces the stages of the Indonesian banking crisis of the late 1990s. Almost every stage of the handling of the crisis was complicated by governance issues. Beyond these, among the lessons identified are how quickly things can get out of hand in an apparently strongly performing economy; that at the outset of a crisis information will be very limited; and that management of a crisis will be an evolving process. A blanket guarantee covering all bank liabilities may be indispensable; however, the authorities are 'buying time', and the more time that has to be bought the more expensive the process will be. Transparency too is indispensable, to generate public trust and support, and to ensure that actions taken by the authorities are irreversible. Overall, while not everything was done right, the strategy put in place had positive elements that have served to protect a core banking system and establish conditions for recovery.  To view this article in its entirety please use the link provided below.  View Full Article     Recommended Citation Enoch, Charles, Olivier Frécaut, and Arto Kovanen. “INDONESIA'S BANKING CRISIS: WHAT HAPPENED AND WHAT DID WE LEARN?” Bulletin of Indonesian Economic Studies 39, no. 1 (2003): 75-92.  

INDONESIA\u27S BANKING CRISIS: WHAT HAPPENED AND WHAT DID WE LEARN?

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INDONESIA\u27S BANKING CRISIS: WHAT HAPPENED AND WHAT DID WE LEARN?

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