Bank-specific determinants of bank failure during the financial crisis in Colombia are identified and studied using duration analysis. The process of failure of banks and related financial institutions during that period can be explained by differences in financial health and prudence across...

This paper estimates transition matrices for the ratings on …nancial insti-tutions, using an unusually informative data set. We show that the processof rating migration exhibits signi…cant non-Markovian behavior, in the sensethat the transition intensities are a¤ected by macroeconomic and...