【出版时间及名称】： Direct fiscal cost of the financial crisis 【作者】：德意志银行
【文件格式】：pdf
【页数】：6
【目录或简介】
Probably much lower than feared
— Final direct cost of the crisis for taxpayers may remain below 1% of GDP
in most developed countries. This is only a small fraction of original
commitments and also much lower than initial gross expenditures.
— Somewhat surprisingly, in historical comparison the crisis may turn out
to be one of the least costly on record. Initial outlays already totalled
only half the average seen in previous banking crisis resolution
schemes in developed countries, primarily thanks to decisive and bold
action taken by public authorities and a speedy recovery of the world
economy. Recovery rates, too, have not always been as high as in the
recent crisis.
— Among the countries most affected by the crisis, direct fiscal costs are
in the end unlikely to exceed 2% in the US and 1% in Germany, while
banking-sector rescue programmes in France and the UK might possibly
even return a net gain.
— Significant cross-country differences result from the diversity in the
designs of the stabilisation programmes, participation rates and the
timing of the exit from state support.