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Many developing and emerging markets have high degrees of state bank ownership. In addition, therecent global financial … crisis has led to significant state ownership of banking assets in developedcountries such as the United Kingdom. These …
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Business groups in emerging markets perform better than unaffiliatedfirms. One explanation is that business groups substitute some functions ofmissing institutions, for example, enforcing contracts. We investigate thisby setting up a model where firms within the business group are connectedto...
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