Tudorel Toader

Corruption and Banking Stability: Evidence from Emerging Economies

ABSTRACT This article investigates the effect of corruption on banking stability using data from banks in emerging markets. The analysis first reveals that a lower level of corruption had a positive impact on bank stability and is associated with fewer credit losses and with more moderate credit growth. It then highlights the importance of bank and country characteristics in identifying the asymmetric effects of corruption on bank stability. Our evidence suggests that stability of banks that are acting in a country that has not adopted a corporate governance code or is not a member of the European Union is affected more by the corruption. Also, in countries with higher levels of corruption banks could increase their stability if they implement rigorous corporate governance practices.

Constitutional Court of Romania: Postal Voting

The Court decided that the regulation of postal voting for the Romanian citizens domiciled or resident abroad is aimed at ensuring the highest participation of the Romanian citizens in the electoral process, taking account of the need to apply in full the principle of universal suffrage. The regulation shall ensure a fair balance between universal suffrage on the one hand, and free and fair elections as well as direct, secret and free suffrage, on the other.

Constitutional Court of Romania: Religion in Schools

The Constitutional Court ascertained the unconstitutionality of the provisions of National Education Law which established the possibility that pupils may not attend Religion classes provided that a request in this respect is made in writing by parents or the legal guardian, because these provisions constituted an infringement of the constitutional provisions of Article 29 on freedom of conscience. The Court stated that in adopting its regulations in education, the legislature must take into account that Article 29 para 6 of the Constitution guarantees the right to religious education and not the obligation to attend Religion classes. In this respect, free expression of options necessarily involves the person’s own initiative to attend the subject of Religion and not the tacit consent or the express refusal to attend Religion classes.