Bofit paper says depositor sensitivity to market rumours increased in crisis
Depositor sensitivity to market rumours about financial institutions increased during the financial crisis in central European countries, according to a discussion paper published by the Bank of Finland's Institute for Economies in Transition (Bofit).
Market Discipline During Crisis: Evidence From Bank Depositors in Transition Countries, by Iftekhar Hasan, Krzysztof Jackowicz, Oskar Kowalewski and Łukasz Kozłowski, notes the Central European banking industry is "dominated" by foreign-owned banks
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