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The Euro and Cross-Border Banking: Evidence from Bilateral Data

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  • Sven Blank

    ()
    (Department of Economics, University of Tuebingen, Mohlstrasse 36, Tuebingen 72074, Germany.)

  • Claudia M Buch

    (1] Department of Economics, University of Tuebingen, Germany[2] Institute for Applied Economic Research IAW, Germany)

Abstract

Has the introduction of the Euro fostered financial integration in Europe? We answer this question using a data set of banks’ bilateral foreign assets and liabilities provided by the Bank for International Settlements. The data cover the pre-Euro period (1995–1998) and the post-Euro period (1999–2005). We use information from 10 OECD reporting countries and all OECD recipient countries. Gravity regressions show a positive and significant impact of the Euro on bilateral financial linkages. This effect is stronger and more robust for banks’ foreign assets than for their foreign liabilities.

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Bibliographic Info

Article provided by Palgrave Macmillan in its journal Comparative Economic Studies.

Volume (Year): 49 (2007)
Issue (Month): 3 (September)
Pages: 389-410

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Handle: RePEc:pal:compes:v:49:y:2007:i:3:p:389-410

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Cited by:
  1. Ruo Chen & Gian-Maria Milesi-Ferretti & Thierry Tressel, 2012. "External Imbalances in the Euro Area," IMF Working Papers, International Monetary Fund 12/236, International Monetary Fund.
  2. Jonathan A. Batten & Peter G. Szilagyi, 2011. "The Recent Internationalization of Japanese Banks," Japanese Economy, M.E. Sharpe, Inc., M.E. Sharpe, Inc., vol. 38(1), pages 81-120, April.
  3. Geert Bekaert & Campbell R. Harvey & Christian T. Lundblad & Stephan Siegel, 2010. "The European Union, the Euro, and Equity Market Integration," NBER Working Papers 16583, National Bureau of Economic Research, Inc.
  4. Philip R. Lane, 2008. "EMU and Financial Integration," The Institute for International Integration Studies Discussion Paper Series, IIIS iiisdp272, IIIS.
  5. Kleimeier, Stefanie & Sander, Harald & Heuchemer, Sylvia, 2013. "Financial crises and cross-border banking: New evidence," Journal of International Money and Finance, Elsevier, Elsevier, vol. 32(C), pages 884-915.
  6. Gajewski, Krzysztof & Olszewski, Krzysztof & Pawłowska, Małgorzata & Rogowski, Wojciech & Tchorek, Grzegorz & Zięba, Jolanta, 2012. "Integracja finansowa w Europie po wprowadzeniu euro. Przegląd literatury
    [Financial integration in Europe after the introduction of the euro. A literature overview]
    ," MPRA Paper 42482, University Library of Munich, Germany.
  7. Böninghausen, Benjamin & Köhler, Matthias, 2012. "Diversification and determinants of international credit portfolios: Evidence from German banks," Discussion Papers, Deutsche Bundesbank, Research Centre 28/2012, Deutsche Bundesbank, Research Centre.
  8. Camelia Minoiu & Chanhyun Kang & V.S. Subrahmanian & Anamaria Berea, 2013. "Does Financial Connectedness Predict Crises?," IMF Working Papers, International Monetary Fund 13/267, International Monetary Fund.

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