On May 9, 2010 euro zone countries announced the creation of the European Financial Stability Facility. This paper investigates the impact of this announcement on bank share prices, bank credit default swap (CDS) spreads, and sovereign CDS spreads. The main private beneficiaries were bank...

This paper provides evidence that commercial banks have benefited greatly from official monies made available directly to developing countries or indirectly to the multilateral lending agencies. In particular, the stock market capitalization of creditor banks worldwide rose by about $6.2 billion...

Although research shows that financial development accelerates aggregate economic growth, economists have not resolved conflicting theoretical predictions and ongoing policy disputes about the cross-firm distributional effects of financial development. Using cross-industry, cross-country data,...

This paper examines the impact of bank regulations, market structure, and national institutions on bank net interest margins and overhead costs using data on over 1400 banks across 72 countries while controlling for bank-specific characteristics. The data indicate that tighter regulations on...

Using bank-level data, we apply the Panzar and Rosse (1987) methodology to estimate the extent to which changes in input prices are reflected in revenues earned by specific banks in 50 countries' banking systems. We then relate this competitiveness measure to indicators of countries' banking...