Brown, Martin; Maurer, Maria Rueda; Pak, Tamara; … - In: Journal of Banking & Finance 33 (2009) 9, pp. 1677-1687
We examine the impact of financial sector reform on interest rate levels and spreads using Kyrgyz bank-level data from 1998 to 2005. We find that, in addition to macroeconomic stabilization, structural reforms to the banking sector significantly contributed to lower interest rates. In...