Item type | Current library | Home library | Call number | Status | Barcode | |
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Main Campus Library | University of Eastern Africa, Baraton | Spc HG 3881.5 .W57no.3440 (Browse shelf(Opens below)) | Available | 59028 |
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Spc HG 3881.5 .W57no.3409 Enforcement and corporate governance / | Spc HG 3881.5 .W57no.3438 Addressing gender-based violence in the Latin American and Caribbean region : | Spc HG 3881.5 .W57no.3439 Elections, special interests and the fiscal costs of financial crisis / | Spc HG 3881.5 .W57no.3440 Market discipline under systemic risk : | Spc HG 3881.5 .W57no.3441 Policies facilitating firm adjustment to globalization / | Spc HG 3881.5 .W57no.3442 Emerging infrastructure policy issues in developing Countries : | Spc HG 3881.5 .W57no.3444 Predicting the poverty impacts of trade reform / |
Also available online.
"Levy-Yayati, Martinez Peria, and Schmukler show that systematic risk exerts a significant impact on the behavior of depositors, sometimes overshadowing their responses to standard bank fundamentals. systematic risk can affect market discipline both regardless of and through bank fundamentals, First, worsening systemic conditions can directly threaten the value of deposits by way of dual agency problems. Second, to the extent that banks are exposed to systemic risk, systemic shocks lead to a future deterioration of fundamentals not captured by their current values. Using data from the recent banking crises in Argentina and Uruguay, the authors show that market discipline is in deeded quite robust once systemic risk is factored in. As systemic risk increases, the informational content of past fundamentals declines. These episodes also show how few systemic shocks can trigger a run
Includes bibliographical references.
Open access.
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