The intensity of the crisis in financial markets has surprised nearly everyone. The authors search out the root causes of the crisis, distinguishing them from scapegoating explanations that have been used...
The authors question the widespread belief that market discipline on banks cannot be effective in less developed financial environments. There is no systematic tendency for low-income countries to lack...
Which public policies and ownership structures enhance the governance of banks? The authors construct a new database on the ownership of banks internationally and then assess the ramifications of ownership...
The term "excess liquidity" may refer to the share of liquid assets in bank portfolios (the result of a retrenchment in bank lending, or a "credit crunch") or to money holdings of the nonbank public. Excess...
In developing countries, the evolution of financial markets and growing disenchantment with directed credit programs and bank-by-bank credit ceilings have increased the interest in examining and moving...