industries populated with a greater number of zombies. To mitigate these effects, we document that countries with stronger banks …

entails enhanced accountability. To this end, the paper provides a selected overview of legal protection for central banks and …

This paper revisits the stabilization role of public banks and analyzes whether weak public finances may hinder this … role. During the global financial crisis (GFC), public banks were widely used to counter the private credit crunch and prop …, particularly outside of the GFC period. This finding suggests high public debt can limit the stabilization role of public banks …

Outside of financial crises, investors have little incentive to produce private information on banks' short …

to previous episodes of financial distress, foreign banks appear to have played a shock-transmitting role, as there was a … sharp slowdown in lending by foreign banks’ affiliates relative to domestic banks. However, given the uniqueness of the … COVID-19 shock and the impact of lockdowns on economic activity, foreign banks were found to lend at a higher rate than …