Working
Paper 98-8
by Eric S. Rosengren
Revised paper was published in The Asian Financial
Crisis: Origins, Implications and Solutions; W.
C. Hunter, G. Kaufman, and T. Krueger, eds. Kluwer publishers
(1999).
Greater transparency and disclosure of bank activities
will not prevent future banking crises unless appropriate
monetary, fiscal, and regulatory policies are also adopted.
Nonetheless, greater disclosure of banking problems
can reduce the costs of banking crises, even if transparency
is not a panacea for preventing banking crises.
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