heterogeneity of the transition economies into our analysis. We find that foreign banks target relatively large and efficient banks …. However, when foreign banks enter more developed transition economies that have made progress in economic reform, they acquire …

This paper studies the effects of bilateral foreign aid on conflict escalation and de-escalation. We make three major … estimator that allows for unobserved heterogeneity and corrects for endogeneity. Third, we identify the causal effect of foreign … recipients. We establish that the effect of foreign aid on the various transition probabilities is heterogeneous and can be …