Foreign versus domestic banks in Germany and the US: A tale of two markets?

Journal of Multinational Financial Management

Volumn 11, Issue 4-5, 2001, Pages 341-361

  Buch, Claudia M ^a   Golder, Stefan M ^b  

^a KIEL INSTITUTE FOR THE WORLD ECONOMY   (Germany)

^b Pixelpark AG   (Switzerland)

Author keywords

Cointegration analysis; G15; G21; Integration of banking markets

Indexed keywords

EID: 0038721759     PISSN: 1042444X     EISSN: None     Source Type: Journal    
DOI: 10.1016/S1042-444X(01)00042-1     Document Type: Article

References (42)

1. Aizenman, J., 1998. Capital Mobility in a Second Best World - Moral Hazard with Costly Financial Intermediation, National Bureau of Economic Research, Working Paper 6703, Cambridge, MA.
2. Association of Foreign Banks in Germany, 1997. Foreign Banks in Germany 1998, Frankfurt a.M.
3. Bakker, A.F.P., 1994. The Liberalization of Capital Movements in Europe, Amsterdam.
4. Berger A.N., Kashyap A.K., Scalise J.M. The Transformation of the U.S. Banking Industry: What a Long, Strange Trip It's Been. Brookings Papers on Economic Activity. 2:1995;55-218.
5. Berger, A.N., De Young, R., Genay, H., Udell, G.F., 2000. Globalization of Financial Institutions: Evidence from Cross-Border Banking Performance, Board of Governors of the Federal Reserve System, Washington D.C., forthcoming in: Brookings-Wharton Papers on Financial Services (Vol. 3).
6. Buch C.M., Golder S.M. Foreign competition and disintermediation: no threat to the German banking system? Banca Nazionale del Lavoro (BNL) Quarterly Review. 53:2000;107-133.
7. Buch, C.M., Golder, S.M., 2001. Domestic and foreign banks in Germany: do the differ? Kredit und Kapital (forthcoming).
8. Buch C.M., Pierdzioch C. The growth and the volatility of international capital flows: reconciling the evidence. Siebert H. The World's New Financial Landscape: Challenges for Economic Policy. 2001;Mohr, Tuebingen. forthcoming.
9. Budzeika, G., 1991. Determinants of the Growth of Foreign Banking Activities in the United States, Federal Reserve Bank of New York, Research Paper 9112, New York.
10. Cho, Y.-J., Khatkhate, D., 1989, Lessons of financial liberalization in Asia: a comparative study, World Bank Discussion Papers 50, Washington DC.
11. Claessens, S., Demirgüc-Kunt, A., Huizinga, H., 1998. How Does Foreign Entry Affect the Domestic Banking Market? Policy Research Working Paper 1918, The World Bank. May.
12. Deutsche Bundesbank, 2000. Financial Accounts for Germany, 1991-1999, Special Statistical Publication 4.
13. Deutsche Bundesbank, 2001. Monatsbericht, various issues, Frankfurt a.M.
14. DeYoung R., Nolle D.E. Foreign-owned banks in the United States: earning market share or buying it? Journal of Money, Credit, and Banking. 28:(4):1996;622-636.
15. European Central Bank (ECB), 2000. Possible Effects of EMU on the EU Banking Systems in the Medium to Long Term, February, Frankfurt a.M.
16. European Commission (EC), 1997. Credit Institutions and Banking, The Single Market Review, Subseries II. Vol. 4, Luxembourg.
17. The Federal Reserve Board, 2000. Flow of Funds Accounts of the United States, Annual Flows and Outstandings, Board of Governors of the Federal Reserve System, Washington D.C.
18. The Federal Reserve Board, 2001. Structure and Share Data for U.S. Offices of Foreign Banks http://www federalreserve.gov/releases/iba/ .
19. Gehrig, T., 1998. Screening, cross-border banking and the allocation of credit, Centre for Economic Policy Research, CEPR Discussion Paper 1973, London.
20. Gelb, A.H., Sagan, S.B., 1990. Banking. In: P.A. Messerlin and K.P. Sauvant (Eds.), The Uruguay Round Services in the World Economy, Washington DC, pp. 49-59.
21. Goldberg L.G., Saunders A. The determinants of foreign banking activity in the United States. Journal of Banking and Finance. 5:1981;17-32.
22. Goldberg L.G., Grosse R. Location choice of foreign banks in the United States. Journal of Economics and Business. 46:1994;367-379.
23. Goldberg, L., Dages, G., Kinney, D., 1999. Lending in Emerging Markets: Foreign and Domestic Banks Compared, Federal Reserve Bank of New York and NBER. Mimeo.
24. Hall, S., Shepherd, D., 1999. Testing for Common Cycles in Money, Nominal Income, and Prices. University of Melbourne, Department of Economics, Research Paper 697, Melbourne.
25. Hansen H., Juselius K. Cats in Rats-Cointegration Analysis of Time Series. 1995;Estima, Evanston.
26. Holmes M.J. Bank credit in the EU: long-run independence or integration with germany? Economic Issues. 2:1997;43-54.
27. Houpt J.V. International activities of U.S. banks and in U.S. banking markets. Federal Reserve Bulletin. 85:(9):1999;599-615.
28. International Monetary Fund (IMF), 2000. International Financial Statistics, Washington DC.
29. Johansen, S., 1988. Statistical analysis of cointegration vectors. Journal of Economic Dynamics and Control 12 (2), 132-254.
30. Johansen S., Juselius K. Maximum likelihood estimation and inference on cointegration - with applications to the demand for money. Oxford Bulletin of Economics and Statistics. 52:1990;169-210.
31. Kono, M., Schuknecht, L., 1999. Financial Services Trade, Capital Flows, and Financial Stability, World Trade Organization, Staff Working Paper ERAD 98-12, Geneva.
32. Landeszentralbank in Hessen, 2000. Entwicklung und Perspektiven der Auslandsbanken am Finanzplatz Frankfurt, Frankfurter Finanzmarktberichte, No. 36 (July), Frankfurt a.M.
33. Mathieson D.J. Financial reform and stabilization policy in a developing economy. Journal of Development Economics. 7:(3):1980;359-395.
34. Molyneux P., Remolona E., Seth R. Modeling foreign bank performance and lending behavior. Financial Markets, Institutions and Instruments. 7:(4):1998;26-41.
35. Reisen H., Fischer B. Financial Opening-Policy Issues and Experiences of Developing Countries. 1993;OECD, Paris.
36. Rhoades S.A. Research on IO topics in banking: an introduction and overview. Review of Industrial Organization. 12:1997;1-8.
37. Peek J., Rosengren E. S. The international transmission of financial shocks: the case of Japan. American Economic Review. 87:(4):1997;495-505.
38. Peek J., Rosengren E.S. Collateral damage: effects of the Japanese bank crisis on real activity in the United States. American Economic Review. 90:(1):2000;30-45.
39. Seth R., Nolle D.E., Mohanty S.K. Do banks follow their customers abroad? Financial Markets, Institutions, and Instruments. 7:1998;1-25.
40. Shaffer, S. 1999. Ownership Structure and Market Conduct Among Swiss Banks, University of Wyoming, Department of Economics, Working Paper, Laramie.
41. Tschoegl A.E. International Banking Centers, Geography, and Foreign Banks. Financial Markets, Institutions, and Instruments. 9:(1):2000;1-32.
42. Varian H.R. Microeconomic Analysis. 3rd Edition :1992;W.W. Norton & Company, New York.