Due to the financial crisis around the world, stability of the banking sector is critical. Several rounds of banking reforms in China have aimed to improve performance and competition, and Performance, Risk and Competition in the Chinese Banking Industry provides a comprehensive analysis of...

This paper links the current sub-prime mortgage crisis to a decline in lending standards associated with the rapid expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house price increases. We also find that the underlying...