The article looks at how banking crises affect market discipline in different countries. They studied 101 banking crises from 1989 to 2007, looking at data from 3,254 banks in 87 countries. The results show that market discipline tends to decrease after a banking crisis. This decrease is more significant in countries where regulations and institutions promote market discipline before the crisis. Also, interventions like forbearance and recapitalizations have a negative impact on market discipline.