This paper analyzes the channels through which financial liberalization affects bank risk-taking in an international sample of 4333 banks in 83 countries. Our results indicate that financial liberalization increases bank risk-taking in both developed and developing countries but through...

This paper analyzes the effect of banking crises on market discipline in an international sample of banks. We also evaluate how bank regulation, supervision, institutions, and crisis intervention policies shape the effect of banking crises on market discipline. We control for unobservable bank,...

Trabajo ganador del Concurso Escolar del Banco Central de Reserva 2006.

Este trabajo analiza los diversos factores que pueden condicionar la posición en los llamados Rankings de las universidades en términos de los indicadores de productividad. En concreto se contrasta la existencia de la influencia de la especialización, por un lado, y del entorno, por otro, en...

This paper studies the impact of the subprime crisis on the ratings issued by the rating agencies in evaluating the solvency of banks. After ascertaining a significant worsening of ratings after the crisis, the paper hypothesises the possibility that this worsening is due not exclusively to a...

This paper analyzes how the effect of bank concentration on economic growth varies across countries depending on bank regulation, supervision, and institutions. Results for 84 countries over the 1980-2004 period indicate that bank concentration generally has a negative effect on economic growth,...