Changing forces of gravity: how the crisis affected international banking


Buch, Claudia M. ; Neugebauer, Katja ; Schröder, Christoph


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URL: https://ub-madoc.bib.uni-mannheim.de/35845
URN: urn:nbn:de:bsz:180-madoc-358453
Document Type: Working paper
Year of publication: 2014
The title of a journal, publication series: ZEW Discussion Papers
Volume: 14-006
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: G01 , F34 , G21,
Keywords (English): International banking , gravity model , financial frictions
Abstract: The global financial crisis has brought to an end a rather unprecedented period of banks’ international expansion. We analyze the effects of the crisis on international banking. Using a detailed dataset on the international assets of all German banks with foreign affiliates for the years 2002-2011, we study bank internationalization before and during the crisis. Our data allow analyzing not only the international assets of the banks’ headquarters but also of their foreign affiliates. We show that banks have lowered their international assets, both along the extensive and the intensive margin. This withdrawal from foreign markets is the result of changing market conditions, of policy interventions, and of a weakly increasing sensitivity of banks to financial frictions.

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Buch, Claudia M. ; Neugebauer, Katja ; Schröder, Christoph (2014) Changing forces of gravity: how the crisis affected international banking. Open Access ZEW Discussion Papers Mannheim 14-006 [Working paper]
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