Econintersect: Harvard professors Carmen Reinhart and Kenneth Rogoff have produced another paper . This paper studies 100 banking crises over two centuries – and how the depth of banking difficulties relate to how long it takes economies to recover. One of the key conclusions in this study is that advance economies may need to resort:
….. to the more eclectic policies of emerging markets, including debt restructurings and conversions, higher inflation, capital controls and other forms of financial repression