Progress on Financial and Corporate Restructuring : East Asia Update
Growth in East Asia, including that of the crisis-affected countries has strengthened progressively-despite the magnitude of the shocks experienced during the financial crisis and their effects on the balance sheets of financial institutions and co...
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/244091468244546312/Progress-on-financial-and-corporate-restructuring http://hdl.handle.net/10986/33502 |
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okr-10986-335022021-04-23T14:05:20Z Progress on Financial and Corporate Restructuring : East Asia Update Ghosh, Swati FINANCIAL SECTOR DEVELOPMENT CORPORATE RESTRUCTURING GLOBAL ECONOMIC CRISIS ECONOMIC SHOCK BANKING SECTOR FINANCIAL REFORM DISTRESSED ASSETS CORPORATE PERFORMANCE DEBT EQUITY RATIO Growth in East Asia, including that of the crisis-affected countries has strengthened progressively-despite the magnitude of the shocks experienced during the financial crisis and their effects on the balance sheets of financial institutions and corporates. Progress on financial and corporate restructuring has contributed to the consolidation of growth. Indeed. Countries that have made the most progress on corporate and financial sector restructuring, notably Korea and Malaysia-have experienced the strongest growth performance since the crisis. However, growth has not been sufficient to redress the problems in the balance sheets of financial and corporate sectors. Although progress has been made in reducing vulnerabilities, especially in the banking sector, progress on corporate restructuring has been slower and more uneven across countries. In most countries, debt-to-equity ratios remain high relative to international norms and continue to pose a threat in the event of a major shock. A sustained effort is needed to complete the corporate and financial sector restructuring agenda, especially since the cases that remain are the more difficult ones. Such efforts are important not only to further potential vulnerability in the kind of uncertain global economic environment we are witnessing, but also to position East Asia for productivity-led growth that must be the basis for sustained improvements in income over the longer-term. 2020-03-31T20:48:59Z 2020-03-31T20:48:59Z 2002-11-01 Report http://documents.worldbank.org/curated/en/244091468244546312/Progress-on-financial-and-corporate-restructuring http://hdl.handle.net/10986/33502 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper East Asia and Pacific East Asia China Indonesia Korea, Republic of Malaysia Philippines Thailand |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English |
| topic |
FINANCIAL SECTOR DEVELOPMENT CORPORATE RESTRUCTURING GLOBAL ECONOMIC CRISIS ECONOMIC SHOCK BANKING SECTOR FINANCIAL REFORM DISTRESSED ASSETS CORPORATE PERFORMANCE DEBT EQUITY RATIO |
| spellingShingle |
FINANCIAL SECTOR DEVELOPMENT CORPORATE RESTRUCTURING GLOBAL ECONOMIC CRISIS ECONOMIC SHOCK BANKING SECTOR FINANCIAL REFORM DISTRESSED ASSETS CORPORATE PERFORMANCE DEBT EQUITY RATIO Ghosh, Swati Progress on Financial and Corporate Restructuring : East Asia Update |
| geographic_facet |
East Asia and Pacific East Asia China Indonesia Korea, Republic of Malaysia Philippines Thailand |
| description |
Growth in East Asia, including that of
the crisis-affected countries has strengthened
progressively-despite the magnitude of the shocks
experienced during the financial crisis and their effects on
the balance sheets of financial institutions and corporates.
Progress on financial and corporate restructuring has
contributed to the consolidation of growth. Indeed.
Countries that have made the most progress on corporate and
financial sector restructuring, notably Korea and
Malaysia-have experienced the strongest growth performance
since the crisis. However, growth has not been sufficient to
redress the problems in the balance sheets of financial and
corporate sectors. Although progress has been made in
reducing vulnerabilities, especially in the banking sector,
progress on corporate restructuring has been slower and more
uneven across countries. In most countries, debt-to-equity
ratios remain high relative to international norms and
continue to pose a threat in the event of a major shock. A
sustained effort is needed to complete the corporate and
financial sector restructuring agenda, especially since the
cases that remain are the more difficult ones. Such efforts
are important not only to further potential vulnerability in
the kind of uncertain global economic environment we are
witnessing, but also to position East Asia for
productivity-led growth that must be the basis for sustained
improvements in income over the longer-term. |
| format |
Report |
| author |
Ghosh, Swati |
| author_facet |
Ghosh, Swati |
| author_sort |
Ghosh, Swati |
| title |
Progress on Financial and Corporate Restructuring : East Asia Update |
| title_short |
Progress on Financial and Corporate Restructuring : East Asia Update |
| title_full |
Progress on Financial and Corporate Restructuring : East Asia Update |
| title_fullStr |
Progress on Financial and Corporate Restructuring : East Asia Update |
| title_full_unstemmed |
Progress on Financial and Corporate Restructuring : East Asia Update |
| title_sort |
progress on financial and corporate restructuring : east asia update |
| publisher |
World Bank, Washington, DC |
| publishDate |
2020 |
| url |
http://documents.worldbank.org/curated/en/244091468244546312/Progress-on-financial-and-corporate-restructuring http://hdl.handle.net/10986/33502 |
| _version_ |
1764478911017648128 |