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EPSTEIN, RACHEL A (2) answer(s).
 
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ID:   120673


Central and East European bank responses to the financial crisi: do domestic banks perform better in a crisis than their foreign-owned counterparts? / Epstein, Rachel A   Journal Article
Epstein, Rachel A Journal Article
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Publication 2013.
Summary/Abstract In the context of transition, nine out of the 10 post-communist countries that ultimately joined the European Union reluctantly privatised the bulk of their banking sectors with foreign capital. The financial crisis of 2008-2009 therefore sparked fears that foreign banks would remove their operations from their Central and East European markets because of a 'home bias' in lending. Such fears were predicated on the widely held beliefs that banks' loyalties lie with their home markets and that it is therefore desirable to protect domestic bank ownership to help combat an economic downturn. This essay casts doubt on the value of banking sector protectionism by comparing foreign and domestic bank behaviour in Central and Eastern Europe during the crisis. The essay finds no consistent relationship between domestic control and either limited economic vulnerability or countercyclical lending.
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2
ID:   069869


NATO enlargement and the spread of democracy: evidence and expectations / Epstein, Rachel A   Journal Article
Epstein, Rachel A Journal Article
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Publication 2005.
Summary/Abstract The second enlargement of the North Atlantic Treaty Organization (NATO) since the end of the cold war fueled an ongoing debate over whether the alliance contributes to democratization in Europe. In the 1990s, critics warned that the 1999 NATO enlargement would cultivate a new cold war and prove irrelevant to democratic consolidation in central Europe. Events have not borne out these forecasts, however. In Poland, not only did NATO build a civilian consensus in favor of democratic control over the armed forces corresponding to NATO norms, but it also delegitimized Polish arguments for defense self-sufficiency that had derived their credibility from Poland's experience of military vulnerability and foreign domination. Such democratizing and denationalizing trends have contributed to stability in postcommunist Europe. An assessment of the seven states that joined in 2004 similarly reveals some scope for NATO's influence in all cases. The alliance's access to domestic reform processes, however, will be uneven across cases in ways largely consistent with the predictions of the theoretical framework in this article.
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