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money-market fund

Can creditor bail-in trigger contagion? The experience of an emerging market

Roy Havemann
The successful bail-in of creditors in African Bank, a small South African monoline lender, provides an opportunity to evaluate the intended and unintended consequences of new resolution tools. Using a data set that matches quarterly, daily and nancial-instrument level data, I show that the bail-in...
Jul 2018
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