About the Author

The study was directed by Rym Ayadi, senior research fellow and head of the Financial Institutions and Prudential Policy research unit at CEPS. The research team included Emrah Arbak, researcher, and Willem Pieter de Groen, research assistant in the same unit at CEPS, with a contribution from David T. Llewellyn of Loughborough University, the Cass Business School in London and the Vienna University of Economics and Business Administration.