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Information or Regulation: What Is Driving the International Activities of Commercial Banks?

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  • Claudia M. Buch

Abstract

Information costs and regulatory barriers are the main distinguishing features of international financial markets as compared to national financial markets. This paper presents a simple model of the impact of these factors on banksÂ’ cross-border activities and provides empirical evidence. Our dataset allows us to capture both the times-series and the cross-section dimension of information costs and changes in regulations, in particular, for intra-EU asset holdings. While EU membership per se seems to have had a negative impact on cross-border banking activities, the adoption of the Single Market clearly had a positive impact. While regulations and information costs are important for all reporting countries, their relative importance differs between countries.

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Bibliographic Info

Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 1011.

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Length: 51 pages
Date of creation: Nov 2000
Date of revision:
Handle: RePEc:kie:kieliw:1011

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Related research

Keywords: cross-border banking; information costs; panel cointegration;

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References

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  1. R Portes & H Rey, 2000. "The Determinants Of Cross-Border Equity Flows," CEP Discussion Papers dp0446, Centre for Economic Performance, LSE.
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  11. Mitchell A. Petersen & Raghuram G. Rajan, 2002. "Does Distance Still Matter? The Information Revolution in Small Business Lending," Journal of Finance, American Finance Association, vol. 57(6), pages 2533-2570, December.
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