The chance of financial crises has grown in emerging economies in recent decades. Increasingly, the interest has shifted away from market-based reforms, such as more transparency, towards potentially stabilizing institutions. Among these institutions are better political freedoms, as they could...

Part of the Polish transformation process has been an opening of the domestic financial market to foreign entrants. While the number of multinational banks (MNBs) has risen from zero to 15 within six years, the ratio of bank credit to private and public enterprises relative to GDP decreased...

Barriers to entry for multinational banks (MNBs) have been reduced in many countries. This paper studies the effect of the presence of MNBs on the supply and quality of credit in emerging economies. This study uses data from the Bank for International Settlements and the International Monetary...