Fungácová, Zuzana; Turk Ariss, Rima; Weill, Laurent - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2013
This paper introduces the “Excessive Liquidity Creation Hypothesis,” whereby a rise in a bank’s core liquidity creation activity increases its probability of failure. Russia experienced many bank failures over the past decade, making it an ideal natural field experiment for testing this...