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دسته بندی:
بانکداری - Banking
سال انتشار:
2019
عنوان انگلیسی مقاله:
Financial deglobalisation in banking?
ترجمه فارسی عنوان مقاله:
تبعید مالی در بانکداری؟
منبع:
Sciencedirect - Elsevier - Journal of International Money and Finance, 94 (2019) 116-131: doi:10:1016/j:jimonfin:2019:01:011
نویسنده:
Robert N. McCauley a,⇑, Agustín S. Bénétrix b, Patrick M. McGuire a, Goetz von Peter a
چکیده انگلیسی:
This paper argues that the decline in cross-border banking since 2007 does not amount to a
broad-based retreat in international lending (‘‘financial deglobalisation”). We show that
BIS international banking data organised by the nationality of reporting banks provide a
clearer picture of international financial integration than the traditional ‘‘residence”, or
balance-of-payments, view. They show that what appears to be a global shrinkage of bank
positions is actually driven by European banks. These banks uniquely responded to credit
losses after 2007 by shedding assets abroad to restore capital ratios. Other banking systems’
global footprints, notably those of Japanese, Canadian and even US banks, have
expanded since 2007. Using a global dataset of banks’ affiliates (branches and subsidiaries),
we demonstrate that the who (i.e., bank nationality) accounts for more of the peak-totrough
shrinkage in foreign claims than does the where (i.e., locational factors). We relate
bank nationality in turn to EU membership, which may reflect asset shrinkage required by
the EU competition authorities in response to state aid, bank profitability and credit losses.
Keywords: Financial globalisation | International banking | Consolidation | Bank nationality | Ownership
قیمت: رایگان
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