Regulation

Working Paper

Financial Liberalization and Banking Crises: The Role of Capital Inflows and Lack of Transparency

This paper shows that the liberalization of capital inflows may undermine bank stability in emerging markets. After financial liberalization, uninformed international investors rationally provide large amounts of funds at low cost. This enables...Read more

Mariassunta Giannetti
01 December 2005

Corporate Governance and Regulation: Can There be too Much of a Good Thing?

We investigate how company-level corporate governance practices and country-level legal investor protection jointly affect company performance. We find that in any legal regime a few specific governance practices improve performance. Companies...Read more

Valentina Giulia Bruno
Stijn Claessens
01 October 2006

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