This paper shows that countries with weak banking system and fiscal institutions, should benefit from the presence of foreign banks, which can constitute a commitment and transparency device. Foreign banks can also reduce the probability of self-fulfilling speculative attacks. A strong presence...

Die wirtschaftswissenschaftliche Zusammenarbeit der beiden Institute reicht zurück bis in die Jahre vor der Transformation der MOE-Länder; aus heutiger Sicht ist dieser wissenschaftliche Austausch heute noch wertvoller als in der Vergangenheit, denn parallel zur Entwicklung der Europäischen...

This paper shows that countries with weak banking system and fiscal institutions, should benefit from the presence of foreign banks, which can constitute a commitment and transparency device. Foreign banks can also reduce the probability of self-fulfilling speculative attacks. A strong presence...