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The number of firm bankruptcies is surprisingly low in economies with poor institutions. We study a model of bank …-firm relationship and show that the bank's decision to liquidate bad firms has two opposing effects. First, the bank gets a payoff if a …
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This collection of conference papers presents a contemporary insight into key trends impacting on the global financial sector post crisis and highlights new policy and research areas affecting banks and other financial institutions. The four main themes are: financial crises, credit activity,...
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Chapter 1 Introduction: Characteristics of Asian financial systems in comparative perspective / ByPeter J. Morgan, Ulrich Volz, Naoyuki Yoshino -- Part I Country chapters: Chapter 2 The development and transformation of the financial system in the People's Republic of China / By Damian Tobin,...
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