This paper tackles the question of knowing whether collateral helps to solve adverse selection problems in transition countries. We use a unique data set of about four hundred bank loans in sixteen transition countries. Our findings support the view of a positive link between the presence of...

This paper considers whether local bank participation exerts an impact on the spread for syndicated loans in Russia. Following Berger et al. (2001), we test whether local banks possess superior ability to deal with information asymmetries. Using a sample of 528 syndicated loans to Russian...