Matches in SemOpenAlex for { <https://semopenalex.org/work/W1521278033> ?p ?o ?g. }
Showing items 1 to 80 of
80
with 100 items per page.
- W1521278033 abstract "Poland's program tackled simultaneously bank and enterprise restructuring and dealt decisively with the bad debt stock and flow problem with measures to improve incentives and institutional skills. Among transition economies, Poland was a pioneer in bank and enterprise restructuring. The main tool it used to implement the restructuring program was the 1993 law on financial restructuring of enterprises and banks, in an approach that encouraged banks to play a central role in enterprise restructuring. Bank recapitalization was linked to improvements in the banks' operating systems aimed at increasing efficiency and loan recovery. Poland's program to restructure banks and enterprises was successful because it was comprehensive. It tackled banks and enterprises at the same time, dealing both with the bad debt stock problem and the associated flow problem. It made assistance on the stock problem contingent on concrete actions to improve lending practices, with the prospect of possible privatization or liquidation. The lesson Poland's experience offers is that solving the stock problem through bank recapitalization is necessary but not sufficient. Bank recapitalization without measures to improve performance incentives and bank skills is likely to fail. Poland was also realistic about isolating too important to fail enterprises, providing special temporary budget support (after progress in key areas) that gave the program political viability. Poland took steps to modernize bank supervision and adopted measures to privatize banks and set up workout units showing genuine interest in changing banking practices. Poland's banking sector now resembles a modern market economy in structure. Commercial banks have a more than adequate capital base. Banking competition has increased and the sector seems relatively efficient and profitable. The experience of the workout departments has strengthened the skills needed for credit allocation and monitoring. Some positive results in enterprising restructuring have been linked to the banks' central role in enterprise governance, maintaining incentives to avoid unloading debt on the government, resolving conflicts between creditors to avoid triggering unnecessary liquidations, and preventing unnecessary bankruptcies. But it is unclear whether enterprises are on a healthy path or whether a second wave of bad loans may emerge, especially after a downswing in the business cycle. This paper - a product of the Financial Sector Development Department - is based in part on the findings of a broader study for the Operations Evaluation Department." @default.
- W1521278033 created "2016-06-24" @default.
- W1521278033 creator A5045346015 @default.
- W1521278033 creator A5086413665 @default.
- W1521278033 date "1996-11-01" @default.
- W1521278033 modified "2023-09-23" @default.
- W1521278033 title "The Polish Experience with Bank and Enterprise Restructuring" @default.
- W1521278033 cites W3150764523 @default.
- W1521278033 hasPublicationYear "1996" @default.
- W1521278033 type Work @default.
- W1521278033 sameAs 1521278033 @default.
- W1521278033 citedByCount "1" @default.
- W1521278033 crossrefType "posted-content" @default.
- W1521278033 hasAuthorship W1521278033A5045346015 @default.
- W1521278033 hasAuthorship W1521278033A5086413665 @default.
- W1521278033 hasConcept C10138342 @default.
- W1521278033 hasConcept C120527767 @default.
- W1521278033 hasConcept C127413603 @default.
- W1521278033 hasConcept C144133560 @default.
- W1521278033 hasConcept C162324750 @default.
- W1521278033 hasConcept C166357818 @default.
- W1521278033 hasConcept C17744445 @default.
- W1521278033 hasConcept C186229450 @default.
- W1521278033 hasConcept C199539241 @default.
- W1521278033 hasConcept C204036174 @default.
- W1521278033 hasConcept C2777764128 @default.
- W1521278033 hasConcept C2780014084 @default.
- W1521278033 hasConcept C29122968 @default.
- W1521278033 hasConcept C2994482091 @default.
- W1521278033 hasConcept C34447519 @default.
- W1521278033 hasConcept C45237549 @default.
- W1521278033 hasConcept C73283319 @default.
- W1521278033 hasConcept C78519656 @default.
- W1521278033 hasConcept C94625758 @default.
- W1521278033 hasConceptScore W1521278033C10138342 @default.
- W1521278033 hasConceptScore W1521278033C120527767 @default.
- W1521278033 hasConceptScore W1521278033C127413603 @default.
- W1521278033 hasConceptScore W1521278033C144133560 @default.
- W1521278033 hasConceptScore W1521278033C162324750 @default.
- W1521278033 hasConceptScore W1521278033C166357818 @default.
- W1521278033 hasConceptScore W1521278033C17744445 @default.
- W1521278033 hasConceptScore W1521278033C186229450 @default.
- W1521278033 hasConceptScore W1521278033C199539241 @default.
- W1521278033 hasConceptScore W1521278033C204036174 @default.
- W1521278033 hasConceptScore W1521278033C2777764128 @default.
- W1521278033 hasConceptScore W1521278033C2780014084 @default.
- W1521278033 hasConceptScore W1521278033C29122968 @default.
- W1521278033 hasConceptScore W1521278033C2994482091 @default.
- W1521278033 hasConceptScore W1521278033C34447519 @default.
- W1521278033 hasConceptScore W1521278033C45237549 @default.
- W1521278033 hasConceptScore W1521278033C73283319 @default.
- W1521278033 hasConceptScore W1521278033C78519656 @default.
- W1521278033 hasConceptScore W1521278033C94625758 @default.
- W1521278033 hasLocation W15212780331 @default.
- W1521278033 hasOpenAccess W1521278033 @default.
- W1521278033 hasPrimaryLocation W15212780331 @default.
- W1521278033 hasRelatedWork W122232034 @default.
- W1521278033 hasRelatedWork W1521371405 @default.
- W1521278033 hasRelatedWork W1823489030 @default.
- W1521278033 hasRelatedWork W2026669627 @default.
- W1521278033 hasRelatedWork W2043497345 @default.
- W1521278033 hasRelatedWork W2121976503 @default.
- W1521278033 hasRelatedWork W2241575106 @default.
- W1521278033 hasRelatedWork W2369142559 @default.
- W1521278033 hasRelatedWork W2398852002 @default.
- W1521278033 hasRelatedWork W263552260 @default.
- W1521278033 hasRelatedWork W2954326528 @default.
- W1521278033 hasRelatedWork W3016416761 @default.
- W1521278033 hasRelatedWork W3121293233 @default.
- W1521278033 hasRelatedWork W3122006755 @default.
- W1521278033 hasRelatedWork W3122423046 @default.
- W1521278033 hasRelatedWork W3123528294 @default.
- W1521278033 hasRelatedWork W3123977997 @default.
- W1521278033 hasRelatedWork W2337145739 @default.
- W1521278033 hasRelatedWork W2564611833 @default.
- W1521278033 hasRelatedWork W2596029247 @default.
- W1521278033 isParatext "false" @default.
- W1521278033 isRetracted "false" @default.
- W1521278033 magId "1521278033" @default.
- W1521278033 workType "article" @default.