distress. We build the first comprehensive dataset on China's overseas bailouts between 2000 and 2021 and provide new insights … together, China's overseas bailouts correspond to more than 20 percent of total IMF lending over the past decade and bailout …

more banks failing simultaneously. A standard bailout policy cannot implement the firstbest, as bailouts cause herding by … firstbest. When such a policy is not feasible, targeted bailouts can be implemented by decentralizing bailout decisions to …

externalities. Minimum liquidity standards and bank bailouts dampen productivity further. …