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Understanding Banking Sector Globalization

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  • Linda S Goldberg

Abstract

This article profiles the recent evolution and consequences of banking sector globalization. After presenting trends in international banking, the article overviews macroeconomic consequences of banking sector globalization, including the role of banks in the international transmission of shocks, comovements of business cycles, financial crises, and economic growth. Other consequences of banking globalization have parallels with the effects of real-side foreign direct investment, including technology transfers, productivity enhancements, and wage spillovers into the host country. Finally, the article provides arguments that banking globalizing can have important consequences for financial supervision and regulation. IMF Staff Papers (2009) 56, 171–197. doi:10.1057/imfsp.2008.31; published online 3 February 2009

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Bibliographic Info

Article provided by Palgrave Macmillan in its journal IMF Staff Papers.

Volume (Year): 56 (2009)
Issue (Month): 1 (April)
Pages: 171-197

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Handle: RePEc:pal:imfstp:v:56:y:2009:i:1:p:171-197

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Cited by:
  1. Tommaso Trani, 2012. "Funding under Borrowing Limits in International Portfolios," IHEID Working Papers 01-2012, Economics Section, The Graduate Institute of International Studies, revised 14 Feb 2012.
  2. Giannetti, Mariassunta & Laeven, Luc, 2011. "The Flight Home Effect: Evidence from the Syndicated Loan Market During Financial Crises," CEPR Discussion Papers 8337, C.E.P.R. Discussion Papers.
  3. Victor Pontines & Reza Siregar, 2011. "Cross-border Bank Lending to Selected SEACEN Economies: An Integrative Report," Staff Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number sp82, March.
  4. Steven Poelhekke, 2011. "Home Bank Intermediation of Foreign Direct Investment," DNB Working Papers 299, Netherlands Central Bank, Research Department.
  5. Luc Laeven & Martin R. Goetz & Ross Levine, 2012. "The Valuation Effects of Geographic Diversification: Evidence from U.S. Banks," IMF Working Papers 12/50, International Monetary Fund.
  6. Claessens, Stijn & Ayhan Kose, M. & Terrones, Marco E., 2010. "The global financial crisis: How similar? How different? How costly?," Journal of Asian Economics, Elsevier, vol. 21(3), pages 247-264, June.
  7. Tommaso Trani, 2011. "Trade in secured debt, adjustment in haircuts and international portfolios," IHEID Working Papers 13-2011, Economics Section, The Graduate Institute of International Studies.
  8. Nicola Cetorelli & Linda S. Goldberg, 2009. "Globalized banks: lending to emerging markets in the crisis," Staff Reports 377, Federal Reserve Bank of New York.
  9. Philip R. Lane, 2012. "Financial Globalisation and the Crisis," BIS Working Papers 397, Bank for International Settlements.
  10. Masciantonio, Sergio & Tiseno, Andrea, 2012. "The rise and fall of universal banking: ups and downs of a sample of large and complex financial institutions since the late ‘90s," MPRA Paper 42494, University Library of Munich, Germany.
  11. William Goulding & Daniel E. Nolle, 2012. "Foreign banks in the U.S.: a primer," International Finance Discussion Papers 1064, Board of Governors of the Federal Reserve System (U.S.).
  12. Steven Ongena & Alexander Popov & Gregory F. Udell, 2012. "When the cat's away the mice will play: does regulation at home affect bank risk taking abroad?," Working Paper Series 1488, European Central Bank.

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