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Dangerous Markets: Managing in Financial Crises

2003; Council on Foreign Relations; Volume: 82; Issue: 2 Linguagem: Inglês

10.2307/20033526

2327-7793

Richard N. Cooper, Dominic Barton, Roberto Newell, Gregory P. Wilson, Barry Eichengreen,

Global Financial Crisis and Policies

Preface.Why Manage Financial Crises Proactively?Why We Wrote Dangerous Markets.Acknowledgments.CHAPTER 1: Introduction to Dangerous Markets.Financial Storms Are Destabilizing.Financial Crises Can Be Understood, Anticipated, Managed, and Prevented.What This Book Is and Is Not.Who Needs to Read Dangerous Markets?Part I: Understanding Financial Crises.Part II: Earning the Right to Win.Part III: Managing Unique Banking Risks.Part IV: Building for the Future.PART I: Understanding Financial Crises.CHAPTER 2: Recognizing New Global Market Realities.Increasing Risk of Financial Crises.Why Financial Crises Are on the Rise.You Can Run, But You Can't Hide From Crises.Looking Ahead.CHAPTER 3: Using Crisis Dynamics to See Growing Risks.The Chronology of a Crisis.The Dynamics of a Financial Crisis.The Corporate Sector: Assessing Value Destruction.The Financial Sector: Banks in Distress.Understanding the Impact of Macroeconomic Catalysts, Foreign Funding, and Asset Bubbles.Conclusions and Outlook for Future Crises.Appendix 3.1: Ten Warning Signs of a Financial Crisis.Appendix 3.2: Estimating Value Destruction in the Economy.Appendix 3.3: Why Corporate Sectors Underperform in Crisis Economies.PART II: Earning the Right to Win.CHAPTER 4: Managing the First Hundred Days.Taking Five Tactical Steps When a Crisis Hits.Developing a Crisis Management Approach.Managing the CEO Agenda.Appendix 4.1: Painting the Picture of a Financial Crisis.Appendix 4.2: How Companies Can Strengthen Funding Before a Crisis.Appendix 4.3: Using Scenario Planning in Financial Crises.CHAPTER 5: Capturing Strategic Opportunities After the Storm.Recognizing Significant Opportunities in a Crisis.Moving from Boundaries to Greater Degrees of Freedom.Executing Successfully to Capture Crisis Opportunities.Appendix 5.1: Leveraging Strategic Opportunities in Financial Crises: The Successful Story of NCNB.PART III: Managing Unique Banking Risks.CHAPTER 6: Driving Successful Bank Turnarounds.Ensuring Turnaround Success: Seven Management Actions.Mellon Bank's Successful Turnaround.Christiana Bank's Successful Turnaround.Filanbanco's Failed Turnaround.Government Stewardship of Troubled Banks.Government's Role in Bank Turnaround Strategies.Appendix 6.1: Building a Rationale for Official Support in a Financial Crisis.CHAPTER 7: Minimizing Costs Through NPL Recovery Excellence.Developing World-Class NPL Recovery Capabilities.Special Issues Raised When NPLs Are Managed by Governments.Management Lessons: Good Banks/Bad Banks in Scandinavia.PART IV: Building for the Future.CHAPTER 8: Strengthening System Safeguards.Moving to Global Standards for Corporate Governance.Adopting Better Accounting Standards.Developing Capital Markets.Resetting Regulatory Regimes.Building an Effective Legal Foundation.Appendix 8.1: Sixteen Elements of Good Corporate Governance.Appendix 8.2: Singapore's Development as an International Financial Center.Appendix 8.3: The Discipline of the Market for Corporate Control: Issues for CEOs.CHAPTER 9: Designing a New, Market-Driven Financial Architecture.Recognizing the Limitations of Current Standards and Approaches.Enhancing the Private Sector's Role in Setting Standards to Reduce the Risk of Future Crises.Appendix 9.1: FSF Compendium of Standards.Endnotes.Glossary.Index.