Bulgaria, the Czech Republic, Hungary, Poland, Romania, the Slovak Republic, and Slovenia. Because privatization methods show similar results, the extent of restructuring is compared across firms in the seven countries and used for determining which country.Measures of restructuring are...

East Asian corporations differ from their counterparts in other countries in important ways. Before the recent financial crisis these differences were viewed as one of the reasons for the success of East Asian economies. The crisis altered that view, and many scholars now argue that the weak...

In this paper, we use a large firm-level dataset covering 19 European countries in order to compare the ownership and financing structures and performance of listed (LCs) and large non-listed companies (NLCs). For the overall sample, we find that the substantial majority of NLCs have either a...

We provide a comprehensive empirical characterization of the linkages between key macroeconomic and financial variables around business and financial cycles for 21 OECD countries over the 1960-2007 period. In particular, we analyze the implications of 122 recessions, 112 (28) credit contraction...

The financial crises of the 1990s triggered many changes to the design of the international financial system. We use the formulation of the new Basle capital accord for banks (B-II) to illustrate that, while much affected, developing countries have had very little influence on this so-called new...