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The determinants of bank bailouts in Greece: testing the extreme limits of the “Varieties of Financial Capitalism” framework

Kolliopoulos, Athanasios (2020) The determinants of bank bailouts in Greece: testing the extreme limits of the “Varieties of Financial Capitalism” framework. GreeSE papers (148). London School of Economics and Political Science, London, UK.

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Abstract

This article explores the determinants of the three bank bailouts in Greece during the recent financial crisis. Building on literature from comparative studies applying the “Varieties of Financial Capitalism” framework, the paper analyzes the factors contributing to bank rescue package design. Although this analysis verifies the institutionalist hypotheses in the case of the two fist recapitalizations, the article attempts to explain the significant changes in the domestic banking system and the transfer of control of systemic banks to foreign hands, which were caused after the third recapitalization in 2015. Interpreting such an exceptional case, we focus on the ECB’s lender of last resort tools as a catalyst for bank restructuring.

Item Type: Monograph (Discussion Paper)
Official URL: http://www.lse.ac.uk/Hellenic-Observatory/Publicat...
Additional Information: © 2020 The Author
Divisions: Hellenic Observatory
Subjects: H Social Sciences > HG Finance
J Political Science > JN Political institutions (Europe)
H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
Date Deposited: 15 Jun 2020 07:18
Last Modified: 25 Jul 2020 23:05
URI: http://eprints.lse.ac.uk/id/eprint/105072

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