Turkey experienced a severe financial crisis in 1994 that resulted in a record level economic contraction and a large number of failures among industrial and financial firms. Employing a nonparametric approach, we measured the efficiency and productivity of the Turkish banking sector between...

This article investigates the impact of the Financial Services Modernization Act (FSMA) on foreign banks. We find that the banking sectors of most developed countries experience significant negative spillover effect. However, the impacts on any two countries' banking sectors are not identical....