01806cas a2200253 a 4500 AALejournalIMF011274 230101c9999 xx r poo 0 0eng d 5.00 USD 9781463902292 1018-5941 BD-DhAAL BD-DhAAL Allard, Julien. Market Phoenixes and Banking Ducks Are Recoveries Faster in Market-Based Financial Systems? / Julien Allard, Rodolphe Blavy. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (26 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Recoveries vary considerably across countries: our paper compares recoveries in bank-based and market-based economies and finds that market-based economies experience significantly and durably stronger rebounds than the bank-based ones (in particular the more bank-based economies of continental Europe). Further, stronger recoveries also tend to be associated with broader economic flexibility. Our findings suggest that dealing with bank sector vulnerabilities is paramount to support the recovery. In the medium term, structural policies to deepen financial markets are useful, but need to be complemented with structural measures to address rigidities more broadly in the real economy. Mode of access: Internet Blavy, Rodolphe. IMF Working Papers; Working Paper ; No. 2011/213 Full text available on IMF http://elibrary.imf.org/view/journals/001/2011/213/001.2011.issue-213-en.xml IMF e-Library