Corporate Sector Restructuring: The Role of Government in Times of Crisis
Examines the steps involved in restructuring the corporate sector. Large-scale corporate restructuring made necessary by a financial crisis is one of the most daunting challenges faced by economic policymakers. The government is forced to take a leading role, even if indirectly, because of the need to prioritize policy goals, address market failures, reform the legal and tax systems, and deal with the resistance of powerful interest groups.
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asset management cor asset management corporation bad loans balance sheets Bank of England bank recapitalization Bank Restructuring banking sector bankruptcy laws bankruptcy reform banks and corporations capital CDRAC central bank Chile corporate and financial corporate debt restructuring corporate distress corporate leverage corporate sector debtors early East Asia episodes equity established exchange rate FICORCA financial incentives financial institutions financial restructuring financial sector fiscal costs FOBAPROA framework government involvement government mediation government-led corporate restructuring Hungary incentives for banks incentives for debt Indonesia inhibit restructuring interest rate large-scale corporate restructuring Large-Scale Post-Crisis Corporate large-scale restructuring London Approach mediation approach ment Mexico moral hazard needed negotiations nonviable corporations nonviable firms percent Poland Policy porate restructuring Post-Crisis Corporate Restructuring recapitalized banks reorgani restructuring director restructuring efforts restructuring goals restructuring institutions strategy Sunset provisions systemic financial crises Thailand tion transparent turing UCABE United Kingdom vested interest groups viable from nonviable zation