Fear of Commitment: Weak Institutions, Volatile Economy, and the Prevalence of Short-term International Capital
This paper shows that weak legal and political institutions and high macroeconomic volatility shorten the maturity of cross-border bank lending. Although these results are confirmed in the previous literature, this paper uses a broader panel data set of 135 countries from 1983 to 2012. Data also suggest new finding that the maturity of international bank … Pročitaj više