Corporate Sector Restructuring: The Role of Government in Times of Crisis

Mark Stone

No 2002/004, IMF Economic Issues from International Monetary Fund

Abstract: 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.

Keywords: EI; bank; debt; firm; recapitalization; bank resolution cost; debt-equity conversion; bank-restructuring agency; nonviable bank; bank reform; bank capital; bank privatization; Business enterprises; Debt restructuring; Asset management; Government asset management; Creditor bail-in; East Asia (search for similar items in EconPapers)
Pages: 28
Date: 2002-08-19
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