This paper provides a detailed explanation of cross-country differences in bank regulations and their sources. The results suggest that the patterns of bank regulations imply important differences between developed and developing countries. While developing countries have stricter banking...

In recent years, corruption and possible anti-corruption measures have been extensively discussed at the national, international and multilateral levels. This article provides an empirical analysis of corruption by viewing corruption as an evolutionary process. It assumes that the institutional...

This paper provides a detailed explanation of cross-country differences in bank regulations and their sources. The results suggest that the patterns of bank regulations imply important differences between developed and developing countries. While developing countries have stricter banking...

We employ a theoretical model to interpret the liquidity and moral hazard effects of IMF support during a financial crisis. We then estimate the response of forward exchange markets to IMF-related announcements, using data on the 3-, 9-, and 12-month forward exchange rates. Our results indicate...

This article empirically investigates the recent hypothesis advanced by Demirguc-Kunt et al. (2004) and Barth et al. (2006) that countries' choices regarding bank regulations reflect their historical and political characteristics. Based on a dataset with 151 developed and developing countries,...

This paper critically evaluates the existing empirical literature on creditor moral hazard in sovereign bond markets, proposes a unified theoretical approach to test for IMF-induced creditor moral hazard, and provides empirical evidence, using daily sovereign bond market spreads of Indonesia and...