The sharp 1994 Mexican peso devaluation was followed by a financial-sector crisis, forcing the Mexican government to retake control of several banks and to grant substantial assistance to many others. This paper tests several hypotheses concerning the impact of devaluation. First, event-study...

"Focuses on the rationale and performance of state-owned financial institutions in emerging markets, as well as on possible government policies for either privatizing or managing them"--Provided by publisher