Fang, Yiwei; Hasan, Iftekhar; Marton, Katherin - In: Journal of Banking & Finance 39 (2014) C, pp. 160-176
This paper takes advantage of the dynamic nature of institutional reforms in transition economies and explores the causal effects of those reforms on bank risk. Using a difference-in-difference approach, we show that banks’ financial stability increases substantially after these countries...