Despite the large output declines suffered by emerging Europe in 2008-09, a major currency and banking crisis was avoided. This paper argues that European economic and political integration was a mitigating factor in this. Cross-border banking…
Banks and Banking
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1,014 papers
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This paper examines the strategies of foreign banks in transition economies. An extreme high share of foreign banks characterizes theses banking markets. I outline different strategies of foreign banks, model their entry decision and provide an…
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Competition policy in the banking sector is complicated by the necessity of maintaining financial stability. Greater competition may be good for (static) efficiency, but bad for financial stability. From the point of view of welfare economics, the…
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We examine empirically the role of lending relationships in determining the costs and collateral requirements for external funds. The data originate from a recently concluded survey of small and medium-sized German firms. In our descriptive…
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Tis paper introduces the updated and expanded version of the Financial Development and Structure Database and presents recent trends in structure and development of financial institutions and markets across countries. Te authors add indicators on…
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We develop a simple model of the interbank market where banks trade a long term, safe asset. When there is a lack of opportunities for banks to hedge idiosyncratic and aggregate liquidity shocks, the interbank market is characterized by excessive…
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Using aggregate balance sheet data from banks across the EU-25 over the period from 1997 to 2005 we provide empirical evidence that national banking market concentration has a negative impact on European banks financial soundness as measured by the…
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We examine the international transmission of bank liquidity shocks from multinational bank- holding companies to their subsidiaries. Our findings are consistent with the studies that document that parent bank fragility negatively affects lending by…
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The consolidation of banks around the world in recent years is intensifying public policy debates on the influences of concentration and competition on the performance of banks. In light of these developments, this paper first reviews the existing…
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The global financial crisis has reignited the debate about the risks of financial globalization, in particular the international transmission of financial shocks. We use data on individual loans of the 118 largest international banks to examine…
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There is a large body of literature that concludes that-when confronted with increased competition-banks rationally choose more risky portfolios. We argue that this literature has had a significant influence on regulators and central bankers. We…
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In this updated and revised version of his 2008 Society for Business Ethics presidential address, Richard Nielsen documents the characteristics and extent of the 2007-2009 economic crisis and analyzes how the ethics issues of the economic crisis are…
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"Is globalization leading us toward a world of fewer and fewer currencies and, consequently, simplified money management? Many specialists believe this is the case, as the territorial monopolies national governments have long claimed over money…
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This paper considers a firm that must issue common stock to raise cash to undertake a valuable investment opportunity. Management is assumed to know more about the firm's value than potential investors. Investors interpret the firm's actions…
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China is reforming its banking system, partially privatizing and taking on minority foreign ownership of three of its dominant "Big Four" state-owned banks. This paper helps predict the effects by analyzing the efficiency of Chinese banks over…
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