Theory makes ambiguous predictions about the relationship between market structure and competitiveness of the banking system and banking sector stability. Empirical studies focusing on individual countries provide similarly ambiguous results, while cross-country studies point mostly to a...

The US government launched the Troubled Assets Relief Program (TARP) in mid-September 2008. This article analyzes the market response to the TARP launch. We reject the null hypothesis that the bailout size has no effect on the firm's value. Banks receiving large bailouts endure significantly...

This book offers new quantitative insights into how South African economy reacts to external economic shocks. The analysis includes focusing on economic growth and financial spill over, effects of capital inflows, contrasting the stock market price returns and volatility on economic growth and...