The puzzle of credibility in international markets -- A theory of credibility through financial integration -- Foreign bank advantage in comparative perspective -- Currency boards and foreign bank presence -- Inflation targeting and foreign bank presence -- Reputation in crisis -- Conclusion

In this article I explore empirically the determinants of the persistent cross-national variation in finance capitalism in advanced democracies. I find that the degree of strategic coordination through extra-market institutions - which protect the economic system from class and sectoral...

How do international investors evaluate sovereign borrowers whose histories and institutions are too new or weak to send strong signals about their creditworthiness? In this paper, I suggest that the perceived creditworthiness of many transition countries' governments rests on a 'transfer' of...