Recent studies have conjectured that there may be a link between financial liberalization and financial instability in emerging economies. Most of these studies, however, do not investigate whether emerging economies are becoming structurally more vulnerable to currency and banking crises. In...

Multinational bank loans have grown in emerging and transition economies in recent years. This paper looks at the determinants of multinational bank (MNB) loans for 72 countries from 1985 to 1998 using data from the Bank for International Settlements and the International Monetary Fund. We find...