Foreign bank participation and access to credit across firms in developing countries

Journal of Comparative Economics

Volumn 34, Issue 4, 2006, Pages 774-795

  Clarke, George R G ^a   Cull, Robert ^a   Martínez Pería, María Soledad ^a  

^a WORLD BANK   (United States)

Author keywords

Access to credit; Foreign bank participation; Small and medium sized enterprises

Indexed keywords

EID: 33751004686     PISSN: 01475967     EISSN: 10957227     Source Type: Journal    
DOI: 10.1016/j.jce.2006.08.001     Document Type: Article

References (43)

1. Acemoglu D., Johnson S., and Robinson J. The colonial origins of comparative development: An empirical investigation. American Economic Review 91 (2001) 1369-1401
2. Amemiya T. The estimation of a simultaneous equation generalized probit model. Econometrica 46 (1978) 1193-1205
3. Barajas A., Steiner R., and Salazar N. The impact of liberalization and foreign investment in Colombia's financial sector. Journal of Development Economics 63 (2000) 157-196
4. Barth J., Caprio G., and Levine R. The regulation and supervision of banks around the world: A new database. Brookings-Wharton Papers on Financial Services 2001 (2001) 183-240
5. Batra G., Kaufmann D., and Stone A.H.W. Investment Climate Around the World: Voices of the Firms from the World Business Environment Survey (2003), World Bank, Washington DC
6. Beck T., Levine R., and Loayza N. Finance and the sources of growth. Journal of Financial Economics 58 (2000) 261-300
7. Beck T., Clarke G., Groff A., Keefer P., and Walsh P. New tools in comparative political economy: The database of political institutions. World Bank Economic Review 15 (2001) 165-176
8. Beck T., Demirgüç-Kunt A., and Maksimovic V. Financial and legal constraints to firm growth: Does firm size matter?. Journal of Finance 60 (2005) 137-177
9. Beck T., Demirgüç-Kunt A., and Maksimovic V. Bank competition, financing constraints, access to credit. Journal of Money Credit, and Banking 36 (2004) 627-648
10. Berger A.N., Klapper L., and Udell G. The ability of banks to lend to informationally opaque small businesses. Journal of Banking and Finance 25 (2001) 2127-2167
11. Buch C. Why do banks go abroad? Evidence from German banks. Financial Markets, Institutions, and Instruments 9 (2000) 33-67
12. Buch C. Information or regulation: What drives the international activities of commercial banks?. Journal of Money, Credit and Banking 35 (2003) 851-869
13. Claessens S., Demirgüç-Kunt A., and Huizinga H. How does foreign entry affect the domestic banking system. Journal of Banking and Finance 25 (2001) 891-911
14. Clarke G.R.G., Cull R., Martínez Pería M.S., and Sánchez S. Bank lending to small businesses in Latin America: Does bank origin matter?. Journal of Money, Credit and Banking 37 (2005) 83-118
15. Crystal J., Dages G., and Goldberg L. Does foreign ownership contribute to sounder banks in emerging markets? The Latin American experience. In: Litan R., Masson P., and Pomerleano M. (Eds). Open Doors: Foreign Participation in Financial Systems in Developing Countries (2001), Brookings Press, Washington, DC 217-266
16. Dages G., Goldberg L., and Kinney D. Foreign and domestic bank participation in emerging markets: Lessons from Mexico and Argentina. Federal Reserve Bank of New York Economic Review (2000) 17-36
17. de Haas, Ralph, van Lelyveld, Iman, 2003. Foreign banks and credit stability in Central and Eastern Europe: A panel data analysis. Staff report No. 109. De Nederlandsche Bank, Amsterdam
18. Dell'Ariccia G., and Marquez R. Information and bank credit allocation. Journal of Financial Economics 72 (2004) 185-214
19. Demirgüç-Kunt A., Levine R., and Min H.G. Foreign banks: Efficiency, stability and growth. In: Seongtae L. (Ed). The Implications of Globalization of World Financial Markets (1998), Bank of Korea, Seoul
20. Denizer C. Foreign entry in Turkey's banking sector, 1980-1997. In: Claessens S., and Jansen M. (Eds). The Internationalization of Financial Services: Issues and Lessons for Developing Countries (2000-2000), Kluwer Academic, Boston 389-406
21. Detragiache, Enrica, Gupta, Poonam, 2004. Foreign banks in emerging market crises: Evidence from Malaysia. Working paper 04/129. International Monetary Fund, Washington, DC
22. Detragiache, Enrica, Gupta, Poonam, Tressel, Thierry, 2006. Foreign banks in poor countries: Theory and evidence. Working paper 06/18. International Monetary Fund, Washington, DC
23. Focarelli D., and Pozzolo A. Where do banks expand abroad? An empirical analysis. Journal of Business 78 (2005) 2435-2465
24. Galindo, Arturo, Micco Alejandro, Serra, César, 2003. Better the devil that you know: Evidence on entry costs faced by foreign banks. Working paper No. 477. Inter-American Development Bank, Washington, DC
25. Giannetti, Mariassunts, Ongena, Steven, 2005. Financial integration and entrepreneurial activity: Evidence from foreign bank entry in emerging markets. Working paper No. 91/2005. European Corporate Governance Institute, Brussels
26. Goldberg L. When is US bank lending to emerging markets volatile?. In: Edwards S., and Frankel J. (Eds). NBER Conference Report Series (2002), Univ. of Chicago Press, Chicago/London 171-191
27. Haber, Stephen, Musacchio, Aldo, 2005. Foreign banks and the Mexican economy, 1997-2004. Mimeo. Stanford University
28. Hellman, Joel, Jones, Geraint, Kaufmann, Daniel, Schankerman, Mark, 2000. Measuring governance, corruption and state capture: How firms and bureaucrats shape the business environment in transition economies. Policy research working paper No. 2312. World Bank, Washington, DC
29. Huber P., J. The behavior of maximum-likelihood estimates under non-standard conditions. In: LeCam L., and Neyman J. (Eds). Proceedings of the Fifth Berkeley Symposium in Mathematical Statistics and Probability (1967), Univ. of California Press, Berkeley 221-233
30. King R.G., and Levine R. Finance, entrepreneurship and growth: Theory and evidence. Journal of Monetary Economics 32 (1993) 513-542
31. Knack S., and Keefer P. Institutions and economic performance: Cross-country tests using alternative institutional measures. Economics and Politics 7 (1995) 207-227
32. La Porta R., López-de-Silanes F., Shleifer A., and Vishny R. Legal determinants of external finance. Journal of Finance 52 (1997) 1131-1150
33. La Porta R., López-de-Silanes F., Shleifer A., and Vishny R. Law and finance. Journal of Political Economy 106 (1998) 1113-1155
34. Martínez Pería M.S., and Mody A. How foreign participation and market concentration impact bank spreads: Evidence from Latin America. Journal of Money, Credit, and Banking 36 (2004) 511-538
35. Mauro P. Corruption and growth. Quarterly Journal of Economics 110 (1995) 681-712
36. Mian, and Atif. Distance constraints: The limits of foreign lending in poor economies. Journal of Finance 61 (2006) 1465-1505
37. Moulton B.R. Random group effects and the precision of regression estimates. Journal of Econometrics 32 (1986) 386-397
38. Peek J., and Rosengren E. Implications of the globalization of the banking sector: The Latin American experience. Federal Reserve Bank of Boston New England Economic Review (Sept.-Oct.) (2000) 45-62
39. Rajan R.G., and Zingales L. Financial dependence and growth. American Economic Review 88 (1998) 559-586
40. Rogers William.H. Regression standard errors in clustered samples. Stata Technical Bulletin Reprints 3 (1993) 88-94
41. Schiantarelli F. Financial constraints and investment: Methodological issues and international evidence. Oxford Review of Economic Policy 12 2 (1996) 70-89
42. Wezel, Thorsten, 2004 Foreign bank entry into emerging economies: An empirical assessment of the determinants and risks predicated on German FDI data. Discussion paper series 1 01/2004. Deutsche Bundesbank, Frankfurt
43. World B. World Development Indicators (2005), World Bank, Washington, DC