Bibliografía: p. 69.

Like most transition economies, Bulgaria, Lithuania and Mongolia suffered severe banking crises, wich had to be resolved before growth could resume. The macroeconomic and institutional failings that led to these crises are described, and parallels are drawn with the causes of banking crises and industrial and developing countries. Resolvinf the crises proved technically and politically difficult, and setbacks occurred. Successful resolution required the implementation of a comprehensive and decisice strategy, involving thorough-going bank restructuring, heavy fiscal costs, and institutional and legal reforms.