Andrievskaya, Irina; Semenova, Maria - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2013
mechanisms of Russia’s interbank market, testing the hypothesis that market discipline in Russia was strong enough to constrain …-based market discipline is investigated using Heckman’s sample selection model and the efficiency of market discipline is studied … with a panel data model. Our approach detects market discipline only during the financial crisis, not before or after. Even …