Jari Jumpponen () (Department of Industrial Engineering and Management, Lappeenranta University of Technology) Kari Liuhto () (Pan-European Institute at Turku School of Economics and Business Administration) Mart Sõrg () (Institute of Finance and Accounting at the University of Tartu) Vello Vensel (Department of Economics at Tallinn University of Technology)
Abstract
Direct investment outflow from transition economies abroad is still modest compared to investment inflow towards transition economies. Global economy both creates preconditions for and also motivates the internatio¬nalization of banks. The main aim of the article is to study activities of Estonian and Russian commercial banks in their efforts to transform themselves from local banks to international ones. As the internationalization of banks has not proceeded without problems and setbacks, the present research tries to point out the reasons why some of the plans were not realized. The authors of the paper argue that international economic ties provide benefits to all the parties involved and that international integration is an effective way of building international stability and economic growth.
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Publisher Info
Paper provided by School of Economics and Business Administration, Tallinn University of Technology in its series Working Papers with number
109.
Length: 24 Date of creation: 2004 Date of revision: Publication status: Published in Working Papers in Economics.School of Economics and Business Administration,Tallinn University of Technology (TUTWPE), Pages 79-102 Handle: RePEc:ttu:wpaper:109
Note: The authors gratefully acknowledge the financial support received from the Research Foundation of the OKO Bank Group, from Göran Collert Foundation, and from the Estonian Science Foundation (Project 5185). Contact details of provider: Postal: Kopli tn. 101, 11712 Tallinn Phone: +(372)620 3535 Fax: +(372)620 3946 Email: Web page: http://majandus.ttu.ee More information through EDIRC
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Find related papers by JEL classification: G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages
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