Ozkan, F. Gulcin; Kipici, Ahmet; Ismihan, Mustafa - In: Emerging Markets Finance and Trade 46 (2010) 4, pp. 55-70
This paper develops an analytical framework to explore how financial-sector characteristics shape the terms and the scale of public borrowing in emerging market economies. We find that the more competitive the banking sector and the more liquid and deeper the deposit market, the better are...