Using a unique set of banking data containing both originally reported and subsequently revised financial variables, we study the incidence of adverse revisions to accounting statements. As might be expected, our findings indicate banks are more likely to underreport financial losses when their...

In the literature on systemic banking crises, two common themes are: (1) Risky lending often follows bank liberalization. (2) Lack of market discipline encourages risky lending. That not all liberalizations are followed by financial crisis and that financial systems without market discipline...

In the literature on systemic banking crises, two common themes are: (1) lack of market discipline encourages risky lending and (2) financial liberalization or privatization lead to risky lending. However, there is evidence to suggest that neither financial liberalization nor weak market...

Los años ochenta han sido calificados como “la década perdida” para México, como un reflejo de las altas tasas de inflación y el bajo crecimiento económico que caracterizó la economía del país durante dicho periodo. Gran parte de las dolencias económicas y financieras que asolaron a...