Finland: Arsenal,
2021
Yale School of Management
Finland: Arsenal, Kaleb B. Nygaard
Journal of Financial Crises
Following a large-scale deregulation of the financial sector during the 1980s and the subsequent massive credit expansion, a banking crisis in Finland caused a sharp contraction in the economy in the early 1990s. One of the key policy responses to the crisis was the creation of an asset management company called Arsenal in 1992. The original purpose of Arsenal was to absorb, manage, and liquidate the bad assets of the Savings Bank of Finland (an entity created by the government-forced merger of 41 of the country’s 81 savings banks). During the following years, Arsenal expanded to become a group of …
Swedish Amcs: Securum And Retriva,
2021
Yale School of Management
Swedish Amcs: Securum And Retriva, Mallory Dreyer
Journal of Financial Crises
With the liberalization of the Swedish banking system in the 1980s, there was a rapid credit expansion, and real estate prices soared. When the Swedish economy began to weaken, real estate prices began to decline, and finance companies faced difficulties. Swedish banks were not insulated from financial pressures, and Nordbanken, a majority state-owned bank, declared large credit losses in 1990. The Swedish government’s response was initially ad hoc and targeted to specific banks, but in 1992, the government announced an open-ended guarantee of all bank liabilities. The crisis response also included a bank restructuring program and the establishment of targeted …
The Hungarian Loan Consolidation Program,
2021
Yale School of Management
The Hungarian Loan Consolidation Program, Mallory Dreyer
Journal of Financial Crises
After spinning off the commercial banking functions that the central bank had performed for many years into three new banks, post-Communist Hungary faced a severe recession in 1992. The recession led to a high level of nonperforming loans (NPLs) in the banking system. In 1992, the Hungarian government announced a Loan Consolidation Program (LCP) to remove bad debt from the balance sheets of banks on a voluntary basis. Depending on the date when a loan was classified as “bad,” the government paid 50%, 80%, or 100% of book value. In 1992, banks transferred bad debt with a book value of …
Czech And Slovak Federative Republic: Consolidation Bank (Kob),
2021
Yale School of Management
Czech And Slovak Federative Republic: Consolidation Bank (Kob), Lily S. Engbith
Journal of Financial Crises
Following the disintegration of the Soviet Union and subsequent Velvet Revolution in 1989, the former Czech and Slovak Federative Republic (CSFR) began the complex transition from a centrally controlled command economy to a market-based economy. The transition necessitated the removal of non-performing loans from state-owned banks’ balance sheets, a task assigned by the Ministry of Finance to the newly formed Consolidation Bank (Konsolidační Banka, hereafter “KOB”). Established on February 25, 1991, the KOB was specifically mandated to acquire and restructure what were known as “TOZ” loans, unsecured debt with no amortization schedules and unsustainably high interest rates. The …
Bureau De Recouvrement Des Crédits Du Burkina (Brcb),
2021
Yale School of Management
Bureau De Recouvrement Des Crédits Du Burkina (Brcb), Mallory Dreyer
Journal of Financial Crises
In Burkina Faso, the pre-1990s banking system was characterized by a high level of government involvement and ownership, which led to government-induced lending rather than lending based on creditworthiness. Nonperforming loans in the Burkinabe banking system grew to 10 percent of total loans in 1991. In order to address the banking crisis in 1991, the Burkinabe government entered into a Structural Adjustment Facility with the IMF and other multilateral organizations which prioritized the privatization of government-owned enterprises and included rehabilitation of the financial system. As part of this restructuring, the government established the Bureau de Recouvrement des Crédits du Burkina …
Us Resolution Trust Corporation,
2021
Yale School of Management
Us Resolution Trust Corporation, Aidan Lawson, Lily S. Engbith
Journal of Financial Crises
The savings and loan (S&L) industry experienced a period of turbulence at the end of the 1970s as sharply increasing interest rates caused much of the value of the industry’s net worth to evaporate due to its focus on long-term, fixed-rate mortgages. As a result, a period of rapid deregulation followed, and S&Ls, also called thrifts, engaged in increasingly risky behavior despite many being clearly insolvent. This trend of yield-seeking growth on the part of zombie thrifts forced the government’s hand as huge losses rendered the insurance fund backing the industry, called the Federal Savings and Loan Insurance Corporation (FSLIC), …
Senegal Société Nationale De Recouvrement (Snr),
2021
Yale School of Management
Senegal Société Nationale De Recouvrement (Snr), Corey N. Runkel
Journal of Financial Crises
In the late 1980s, Senegal embarked on a comprehensive set of reforms to its banking sector. The reforms comprised changes to management, supervision, and lending standards after loose central bank refinancing standards had let the nonperforming loans (NPLs) caused by drought and public enterprise mismanagement linger on bank balance sheets. In the process, the country attempted to recover NPLs worth hundreds of billions of francs. Senegal closed several state-controlled banks, transferring bad assets and certain liabilities to a new asset management company, the Société Nationale de Recouvrement (SNR). The SNR’s debt recoveries would reimburse depositors in the liquidated banks and …
Uruguayan Non-Performing Portfolio Purchase Scheme,
2021
Yale School of Management
Uruguayan Non-Performing Portfolio Purchase Scheme, Sean Fulmer
Journal of Financial Crises
As the Latin American sovereign debt crisis spread through the continent during the early 1980s, foreign investors began to abandon Uruguay out of fear that it would devalue its currency like Argentina did in March 1981. Five small- to medium-sized commercial banks in Uruguay faced solvency crises as a result. Although the Central Bank of Uruguay (CBU) decided that a full, direct intervention into the failed banks was not necessary due to their size, the CBU arranged for the sale of the banks to foreign financial institutions, while assuming the non-performing portfolios of the failed banks to facilitate the transaction. …
Spain: Deposit Guarantee Fund Asset Management,
2021
Yale University
Spain: Deposit Guarantee Fund Asset Management, Manuel León Hoyos
Journal of Financial Crises
The global oil shock in 1973-74 occurred at a time when Spain was embarking on a liberalization of its financial system that resulted in many new entrants, particularly small- and medium-sized institutions. The banking crisis that followed from 1977-85 affected 52 of the country’s 110 banks, most of them of small- and medium-sized, that comprised over 20% of bank deposits. Spain established the Deposit Guarantee Fund in November 1977 to provide limited deposit insurance, and, in March 1978, established a Banking Corporation to take control of and reorganize troubled banks. However, because the Banking Corporation lacked the legal authority to …
Broad-Based Asset Management Programs,
2021
Yale School of Management
Broad-Based Asset Management Programs, Christian M. Mcnamara, Greg Feldberg, Mallory Dreyer, Andrew Metrick
Journal of Financial Crises
Dealing with high levels of nonperforming assets (NPAs) on bank balance sheets is one of the most challenging aspects of financial crisis management. High levels of NPAs can interfere with both bank profitability and general economic growth by increasing uncertainty about bank solvency and therefore funding costs, tying up resources and attention, and inhibiting new lending. One potential solution to the NPA problem is a centralized, government-driven effort to remove these assets from troubled institutions and then manage and sell them. Though such broad-based asset management (BBAM) programs existed even earlier in history, they appear to have become more common …
Behavioral Changes In Accessing Outpatient Care During The Covid-19 Pandemic,
2021
Departemen Ilmu Ekonomi, Fakultas Ekonomi dan Bisnis, Universitas Padjadjaran
Behavioral Changes In Accessing Outpatient Care During The Covid-19 Pandemic, Alfiah Hasanah, Donny Hardiawan, Jefani Marrosa, Adlan Ramadhan, Heriyaldi Heriyaldi, Estro Dariatno Sihaloho, Adiatma Y. M. Siregar
Jurnal Ekonomi Kesehatan Indonesia
Unwillingness to seek healthcare has been observed in citizens from many countries during the Covid-19 pandemic. Previous studies show that the changes in behavior are due to various reasons such as economic slowdown, loss of health insurance due to termination of employment, and fear of contracting the virus. This behavior may result in worsened health conditions, making a individual more susceptible to the virus. The supply side of health care is one of the things that should be considered in the discussion about access to health care in developing countries. This paper investigates access to the healthcare problem of Indonesians, …
Pembiayaan Pasien Covid-19 Dan Dampak Keuangan Terhadap Rumah Sakit Yang Melayani Pasien Covid-19 Di Indonesia Analisis Periode Maret 2020 – Desember 2020,
2021
Administrator Kesehatan Madya, Kementerian Kesehatan
Pembiayaan Pasien Covid-19 Dan Dampak Keuangan Terhadap Rumah Sakit Yang Melayani Pasien Covid-19 Di Indonesia Analisis Periode Maret 2020 – Desember 2020, Wiwi Ambarwati
Jurnal Ekonomi Kesehatan Indonesia
Hospital visit volumes decline to 50% during the COVID-19 pandemic, which has reduced hospital revenue. The burden of hospitals handling COVID-19 patients is getting higher due to the late payment of COVID-19 claims. This study aims to review COVID-19 payment regulation in hospitals, constraints of policy implementation, and hospital financial challenges in Indonesia. This is a descriptive-analytic study, data collection is carried out through literature searches from scientific journals, BPJS Kesehatan, the Ministry of Health, Hospital Associations, and scientific seminars in online mass media. BPJS Kesehatan data as of 28 January 2020 shows, number of COVID-19 claims was 433,077 and …
Perhitungan Cost Of Treatment Pada Pasien Rawat Inap Penderita Stroke Peserta Bpjs Di Rsud Dr. Mohamad Saleh Kota Probolinggo,
2021
Bagian Administrasi dan Kebijakan Kesehatan, Fakultas Kesehatan Masyarakat, Universitas Jember
Perhitungan Cost Of Treatment Pada Pasien Rawat Inap Penderita Stroke Peserta Bpjs Di Rsud Dr. Mohamad Saleh Kota Probolinggo, Azizah Munawwarah
Jurnal Ekonomi Kesehatan Indonesia
Stroke is one of the catastrophic diseases which is the most cause of death in Indonesia. Probolinggo is the second highest prevalence city of stroke in East Java. The prevalence and mortality of stroke have increased in RSUD dr. Mohamad Saleh Probolinggo. Stroke is a high-cost and life-threatening disease, so that the propitious financial management is needed to ensure the effectiveness and efficiency of this services. Therefore, it is necessary to do a study of cost of treatment that measures the cost of stroke treatment. The purpose of this study was to describe cost of treatment of stroke patients as …
Mandatory Social Distancing For Covid-19 Outbreak And Its Economic Consequences In West Sumatera - Indonesia,
2021
Universitas Andalas
Mandatory Social Distancing For Covid-19 Outbreak And Its Economic Consequences In West Sumatera - Indonesia, Endrizal Ridwan, Besti Novianda
Jurnal Ekonomi Kesehatan Indonesia
The Governor of West Sumatra Province of Indonesia imposed a mandatory social distancing (PSBB) to slow down the Covid-19 outbreak from 22 April to 7 June 2020. The cons argued that PSBB was ineffective because of the impossibility to limit people’s movements. The pros, on the other hand, viewed PSBB as a training facility to increase people’s awareness about the pandemic. Our research aims at evaluating the effectiveness of PSBB by using the Kermack-McKendrick SIR pandemic model and the NLSUR non-linear least square estimation. Using daily data published by the Covid-19 task force, we found that PSBB had a positive …
Pengaruh Pengadaan Barang Dan Jasa Pada Masa Pandemi Corona Virus Disease 2019 (Covid-19) Terhadap Kondisi Keuangan Rumah Sakit Di Rsup Dr. Kariadi Semarang,
2021
Rumah Sakit Umum Pusat Dr. Kariadi Semarang dan Mahasiswa Magister Ilmu Kesehatan Masyarakat Universitas Diponegoro
Semarang
Pengaruh Pengadaan Barang Dan Jasa Pada Masa Pandemi Corona Virus Disease 2019 (Covid-19) Terhadap Kondisi Keuangan Rumah Sakit Di Rsup Dr. Kariadi Semarang, Himawan Sasongko
Jurnal Ekonomi Kesehatan Indonesia
The mechanism for procuring goods and services in handling emergencies is different from regular/ordinary conditions. The main difference is in the stage of the procurement implementation. Today's problems are the enormous price disparity, the increasing availability and demand, especially for personal protective equipment (PPE). The disparity has resulted in more significant expenses in hospital spending, this condition impact hospital finances. This research is an observational study. The method is qualitative with interviews and data collection. The data taken are primary data and secondary data. Informants consist of main informants and triangulation informants. The data collection instrument was an in-depth interview …
Refugees/Displaced People In The Workplace,
2021
University of South Florida
Refugees/Displaced People In The Workplace, Sharon L. Segrest, Amy E. Hurley-Hanson, Cristina M. Giannantonio
Business Faculty Articles and Research
No abstract provided.
Intro To This Special Issue: Refugees/Displaced People In The Workplace,
2021
University of South Florida
Intro To This Special Issue: Refugees/Displaced People In The Workplace, Sharon L. Segrest, Amy E. Hurley-Hanson, Cristina M. Giannantonio
Business Faculty Articles and Research
This special issue focuses on refugees’ experiences and displaced people across a diverse set of ethnicities and circumstances. The growing number of refugees and displaced people and the work and life difficulties they face are central social issues in the world today. This special issue will explore how refugees and displaced people in Brazil can be fully integrated, socialized, engaged, embraced, and affirmed into the workplace and society. Research is presented on the experiences of refugees and displaced people, a growing but under-researched segment of the world’s population. Little is known about refugees’ career experiences and displaced people and how …
The Contribution Of Mining Sector To Sustainable Development In Saudi Arabia,
2021
Northern Border University
The Contribution Of Mining Sector To Sustainable Development In Saudi Arabia, Mourad Zmami, Ousama Ben-Salha, Sultan O. Almarshad, Houyem Chekki
Journal of Sustainable Mining
The mining sector development is among the priorities of the Saudi Vision 2030. There is currently a lot of interest in the role of the mining sector in Saudi Arabia. This research contributes to this debate by empirically assessing the effects of mining on sustainable development in Saudi Arabia during the period 1980-2018. Unlike many previous studies, the three sustainable development dimensions, namely economic, social, and environmental, are jointly considered. The cointegration analysis, based on the ARDL, Gregory-Hansen, and combined cointegration tests, confirms the existence of long-run relationships between mining and all sustainable development dimensions. Furthermore, the findings lend substantial …
Impact Of Income And Corporate Taxes On Economic Development In Egypt,
2021
The American University in Cairo AUC
Impact Of Income And Corporate Taxes On Economic Development In Egypt, Khaled Abo-Ahmed
Theses and Dissertations
The purpose of this study is to examine how do corporate and income taxes impact economic development in Egypt. This study uses the analytical quantitative method, and the approach of this study is based on using annual time series data for the period 1980 to 2018 to estimate two models by using Autoregressive distributed lag (ARDL) model. First estimation is between direct taxes (corporate and income taxes) and Growth domestic product (GDP) growth as dependent variable, and the second one by using human development index (HDI) instead of GDP growth. The second objective is to investigate the difference, if any, …
The Impact Of Global Crises On Women: The Case Of Covid-19 In Egypt,
2021
The American University in Cairo AUC
The Impact Of Global Crises On Women: The Case Of Covid-19 In Egypt, Nour A. Dokhan
Theses and Dissertations
Any global crisis is expected to affect every human being, but for women it is always twice as hard. In the case of Covid-19, women are more affected across every domain, from social protection to health, simply because if their gender. This research explores the impact of Covid-19 on women, both economically and socially, with the focus on the case of Egypt. It explores the systematic gender inequalities in the economic, social, and health spheres using cases from previous crises, and how this gender inequality and vulnerability has resulted in much worse consequences of Covid-19 than that of men. The …
