Schmukler, Sergio L.; Levy-Yeyati, Eduardo; Peria, … - Econometric Society - 2004
their responses to standard bank fundamentals. Systemic risk can affect market discipline both regardless of and through … market discipline is indeed quite robust once systemic risk is factored in. As the latter increases, the informational … of ex-ante fundamentals. Overall, the evidence suggests that, in emerging economies, the notion of market discipline …