During a crisis of confidence, announcements of deposit guarantees may give market participants short-term confort. But stock market responses show that using public funds for bank bailouts is not a credible way to restore the health of the financial sector.If the event falls in a weekend, the stock market response is calculated using the Monday and Friday returns only. If the first trading day before the event was more than 3 days back because the stock exchange was closed during the other days anbsp;...
|Title||:||Stock Market Responses to Bank Restructuring Policies During the East Asian Crisis|
|Publisher||:||World Bank Publications - 2001|