The Impact of the Global Financial Crisis on Banking Globalization

Although cross-border bank lending has fallen sharply since the crisis, extending our bank ownership database from 1995-2009 up to 2013 shows only limited retrenchment in foreign bank presence. While banks from OECD countries reduced their foreign presence (but still represent 89% of foreign bank as...

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Bibliographic Details
Main Author: Claessens, Stijn
Other Authors: Horen, Neeltje
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2014
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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651 4 |a United States 
653 |a International finance 
653 |a Depository Institutions 
653 |a Banks and banking, Foreign 
653 |a Credit 
653 |a Cross-border banking 
653 |a Commercial banks 
653 |a Banks 
653 |a Finance 
653 |a Banks and banking 
653 |a Monetary economics 
653 |a Financial institutions 
653 |a Financial services 
653 |a Monetary Policy, Central Banking, and the Supply of Money and Credit: General 
653 |a Micro Finance Institutions 
653 |a Long-term Capital Movements 
653 |a General Financial Markets: General (includes Measurement and Data) 
653 |a Mortgages 
653 |a International Lending and Debt Problems 
653 |a Multinational Firms 
653 |a Money 
653 |a Financial markets 
653 |a Emerging and frontier financial markets 
653 |a Banks and Banking 
653 |a International Business 
653 |a Financial services industry 
653 |a Bank credit 
653 |a Banking 
653 |a Money and Monetary Policy 
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520 |a Although cross-border bank lending has fallen sharply since the crisis, extending our bank ownership database from 1995-2009 up to 2013 shows only limited retrenchment in foreign bank presence. While banks from OECD countries reduced their foreign presence (but still represent 89% of foreign bank assets), those from emerging markets and developing countries expanded abroad and doubled their presence. Especially advanced countries hit by a systemic crisis reduced their presence abroad, with far flung and relatively small investments more likely to be sold. Poorer and slower growing countries host fewer banks today, while large investments less likely expanded. Conversely, faster host countries’ growth and closeness to potential investors meant more entry. Lending by foreign banks locally grew more than cross-border bank claims did for the same home-host country combination, and each was driven by different factors. Altogether, our evidence shows that global banking is not becoming more fragmented, but rather is going through some important structural transformations with a greater variety of players and a more regional focus