“…Case studies dedicated to identifying the presence of market discipline in different countries have proliferated in recent times. The existence of market discipline was substantiated for developed countries like Switzerland (Birchler, Maechler (2001)), New Zealand (Wilson, Rose, Pinfold (2004)) and Japan (Murata, Hori (2006), Hoshi (2006)), as well as for some developing countries: Argentine, Chile, Mexico (Martinez Peria, Schmuckler (2001)), Bolivia (Ioannidou, de Dreu (2006)), Colombia (Barajas, Steiner (2000)), India (Chipalkatti, Ramesha, Rishi (2007)), Turkey (Ungan, Caner (2004)) and Uruguay (Goday, Gruss, Ponce (2005)). In particular, they show that market discipline exists even in the market for small insured deposits.…”