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"The openness or internationalization of financial services is a complex issue because it is closely related to structural reforms in the domestic financial sector with some perceived implications for macroeconomic stability. Bayraktar and Wang investigate the impact of foreign bank entry on the...
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One remarkable consequence of Turkey's financial liberalization has been the large number of foreign banks entering the banking sector. Their effect? They appear to have increased competition and to have reduced the overhead expenses of domestic commercial banks, strengthening profits
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During a financial crisis, pressure on Central banks to act as a lender of last resort (LLR) and to offer emergency liquidity assistance to troubled banks increases. The European Central Bank, however, has announced that it does not regard it as its principal task to provide emergency liquidity...
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