Address to the Overseas Development Council
James D. Wolfensohn, President of the World Bank Group, reflected upon the Asian financial crisis. What lessons are there that need to be learned? How do you position the Asian crisis? What went wrong? It is very hard to generalize; there are problems in the banking sector, and the private sector. Y...
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| Online Access: | http://documents.worldbank.org/curated/en/2015/11/25248224/address-overseas-development-council-conference-asias-coming-explosion-james-d-wolfensohn-president http://hdl.handle.net/10986/26157 |
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okr-10986-261572021-04-23T14:04:20Z Address to the Overseas Development Council Wolfensohn, James D. INTERNATIONAL STANDARDS BANK SUPERVISORS EMPLOYMENT BANKRUPTCY LAWS DEFICIT EQUITY CAPITAL MARKETS ACCOUNTING FOREIGN DEBT TRANSPARENCY BUDGET SURPLUS FINANCIAL CRISIS INCOME FUTURE PENSIONS LAWS JUDGEMENT BANK SALARY GOVERNMENT EXCHANGE EXCHANGE MARKETS LIQUIDITY BANKING SYSTEMS MINISTER FOREIGN BANKS REORGANIZATION MARKET FOREIGN EXCHANGE CRIME CORRUPTION SAVING CENTRAL BANKS BANKRUPTCY MINISTERS LEVERAGES LIFE EXPECTANCY HOLDINGS EXPOSURE JUSTICE BUDGET FINANCIERS COMMUNICATIONS FINANCIAL SECTOR REFORM SECURITY LACK OF TRANSPARENCY ACCOUNTING STANDARDS COMMERCIAL CODE CURRENCY SOCIAL ISSUE POVERTY FINANCIAL MARKETS RESTRUCTURING BANKING REGULATORS BANK SUPERVISION MONETARY FUND MIGRATION JUSTICE SYSTEM GLOBALIZATION RESTORATION LENDING VIOLENCE FINANCIAL INSTITUTIONS PRIVATE SECTOR DEBT MARKETS DEBT CONFIDENCE BUDGET DEFICIT EXCHANGE RATE GOVERNMENT SECURITY MEDIUM BANKERS SOCIAL ISSUES LABOR GOVERNMENTS FINANCIAL SECTOR INTERNATIONAL BANKS FINANCIAL SYSTEM REAL ESTATE FINANCE FOREIGN CURRENCY BANKING SECTOR COMPETITION BANKS ESTATE James D. Wolfensohn, President of the World Bank Group, reflected upon the Asian financial crisis. What lessons are there that need to be learned? How do you position the Asian crisis? What went wrong? It is very hard to generalize; there are problems in the banking sector, and the private sector. Yet, the achievements of Asia are real. Fiscal management is excellent. Savings rates are high. Primary school enrollment is near 100 percent. This is no Latin American-style crisis. The Bank is working on two paths to restore confidence in these economies. One is financial and the other is social. There is a need for change in the supervision and control of the banking systems, and for transparency in the corporate sector. The social implications of the crisis are that it is the standard of living of the poor that has suffered the most. Inequality, migration, and unemployment are rising at scary rates. The Bank believes that together with the governments we can look forward to a real future in Asia. 2017-02-23T21:51:51Z 2017-02-23T21:51:51Z 1998-03-19 Speech http://documents.worldbank.org/curated/en/2015/11/25248224/address-overseas-development-council-conference-asias-coming-explosion-james-d-wolfensohn-president http://hdl.handle.net/10986/26157 English en_US Conference on Asia's Coming Explosion, Washington, D.C., March 19, 1998; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Speech |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
INTERNATIONAL STANDARDS BANK SUPERVISORS EMPLOYMENT BANKRUPTCY LAWS DEFICIT EQUITY CAPITAL MARKETS ACCOUNTING FOREIGN DEBT TRANSPARENCY BUDGET SURPLUS FINANCIAL CRISIS INCOME FUTURE PENSIONS LAWS JUDGEMENT BANK SALARY GOVERNMENT EXCHANGE EXCHANGE MARKETS LIQUIDITY BANKING SYSTEMS MINISTER FOREIGN BANKS REORGANIZATION MARKET FOREIGN EXCHANGE CRIME CORRUPTION SAVING CENTRAL BANKS BANKRUPTCY MINISTERS LEVERAGES LIFE EXPECTANCY HOLDINGS EXPOSURE JUSTICE BUDGET FINANCIERS COMMUNICATIONS FINANCIAL SECTOR REFORM SECURITY LACK OF TRANSPARENCY ACCOUNTING STANDARDS COMMERCIAL CODE CURRENCY SOCIAL ISSUE POVERTY FINANCIAL MARKETS RESTRUCTURING BANKING REGULATORS BANK SUPERVISION MONETARY FUND MIGRATION JUSTICE SYSTEM GLOBALIZATION RESTORATION LENDING VIOLENCE FINANCIAL INSTITUTIONS PRIVATE SECTOR DEBT MARKETS DEBT CONFIDENCE BUDGET DEFICIT EXCHANGE RATE GOVERNMENT SECURITY MEDIUM BANKERS SOCIAL ISSUES LABOR GOVERNMENTS FINANCIAL SECTOR INTERNATIONAL BANKS FINANCIAL SYSTEM REAL ESTATE FINANCE FOREIGN CURRENCY BANKING SECTOR COMPETITION BANKS ESTATE |
| spellingShingle |
INTERNATIONAL STANDARDS BANK SUPERVISORS EMPLOYMENT BANKRUPTCY LAWS DEFICIT EQUITY CAPITAL MARKETS ACCOUNTING FOREIGN DEBT TRANSPARENCY BUDGET SURPLUS FINANCIAL CRISIS INCOME FUTURE PENSIONS LAWS JUDGEMENT BANK SALARY GOVERNMENT EXCHANGE EXCHANGE MARKETS LIQUIDITY BANKING SYSTEMS MINISTER FOREIGN BANKS REORGANIZATION MARKET FOREIGN EXCHANGE CRIME CORRUPTION SAVING CENTRAL BANKS BANKRUPTCY MINISTERS LEVERAGES LIFE EXPECTANCY HOLDINGS EXPOSURE JUSTICE BUDGET FINANCIERS COMMUNICATIONS FINANCIAL SECTOR REFORM SECURITY LACK OF TRANSPARENCY ACCOUNTING STANDARDS COMMERCIAL CODE CURRENCY SOCIAL ISSUE POVERTY FINANCIAL MARKETS RESTRUCTURING BANKING REGULATORS BANK SUPERVISION MONETARY FUND MIGRATION JUSTICE SYSTEM GLOBALIZATION RESTORATION LENDING VIOLENCE FINANCIAL INSTITUTIONS PRIVATE SECTOR DEBT MARKETS DEBT CONFIDENCE BUDGET DEFICIT EXCHANGE RATE GOVERNMENT SECURITY MEDIUM BANKERS SOCIAL ISSUES LABOR GOVERNMENTS FINANCIAL SECTOR INTERNATIONAL BANKS FINANCIAL SYSTEM REAL ESTATE FINANCE FOREIGN CURRENCY BANKING SECTOR COMPETITION BANKS ESTATE Wolfensohn, James D. Address to the Overseas Development Council |
| relation |
Conference on Asia's Coming Explosion, Washington, D.C., March 19, 1998; |
| description |
James D. Wolfensohn, President of the World Bank Group, reflected upon the Asian financial crisis. What lessons are there that need to be learned? How do you position the Asian crisis? What went wrong? It is very hard to generalize; there are problems in the banking sector, and the private sector. Yet, the achievements of Asia are real. Fiscal management is excellent. Savings rates are high. Primary school enrollment is near 100 percent. This is no Latin American-style crisis. The Bank is working on two paths to restore confidence in these economies. One is financial and the other is social. There is a need for change in the supervision and control of the banking systems, and for transparency in the corporate sector. The social implications of the crisis are that it is the standard of living of the poor that has suffered the most. Inequality, migration, and unemployment are rising at scary rates. The Bank believes that together with the governments we can look forward to a real future in Asia. |
| format |
Speech |
| author |
Wolfensohn, James D. |
| author_facet |
Wolfensohn, James D. |
| author_sort |
Wolfensohn, James D. |
| title |
Address to the Overseas Development Council |
| title_short |
Address to the Overseas Development Council |
| title_full |
Address to the Overseas Development Council |
| title_fullStr |
Address to the Overseas Development Council |
| title_full_unstemmed |
Address to the Overseas Development Council |
| title_sort |
address to the overseas development council |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/2015/11/25248224/address-overseas-development-council-conference-asias-coming-explosion-james-d-wolfensohn-president http://hdl.handle.net/10986/26157 |
| _version_ |
1764456160342048768 |