Are bank resolution regimes effective enough to improve financial stability? We look at the effect of the new bank … results suggest that centralized regulation has heterogeneous effects depending on the country's development degree. Improving …

Bank regulation is based on the premise that risks spill over more easily from large banks to the banking system than … vice versa. On the contrary, we document that risk transmission is stronger in the system-to-bank direction. We term this … banks with positive net exposure to the system had higher default risk during the 2008 crisis, and that bank size and …

bank supervision and eventually produce banking crisis. For political reasons, most countries establish a regulatory … culture that embraces three economically contradictory elements: politically directed subsidies to selected bank borrowers …