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German Bank Lending during Emerging Market Crises: A Bank Level Analysis

Author

Listed:
  • Frank Heid

    (Deutsche Bundesbank, Department of Banking and Financial Supervision, Wilhelm-Epstein-Straße 14, D-60431 Frankfurt/M.)

  • Thorsten Nestmann

    (Johannes-Gutenberg-University of Mainz, Chair of International Macroeconomics, Jakob-Welder-Weg 4, D-55128 Mainz)

  • Natalja von Westernhagen

    (Deutsche Bundesbank, Department of Banking and Financial Supervision, Wilhelm-Epstein-Straße 14, D-60431 Frankfurt/M.)

  • Beatrice Weder

    (Johannes-Gutenberg-University of Mainz, Chair of International Macroeconomics, Jakob-Welder-Weg 4, D-55128 Mainz,)

Abstract

Dieser Artikel untersucht die Kreditvergabe von Banken in Zeiten erhöhter Risikoaversion. Wir untersuchen die Reaktionen deutscher Banken während der Asien- und der Russlandkrise unter Verwendung von Einzelbankdaten der Deutschen Bundesbank. Eine Untersuchung dieser Frage kann Aufschluss darüber geben, welche Rolle Banken allgemein in der Übertragung von Währungs- und Wirtschaftskrisen in Schwellenländern spielen. Die empirischen Resultate zeigen, dass die deutschen Kreditinstitute auf die Asienkrise vorwiegend mit Portfolioumschichtungen innerhalb ihres Kreditportfolios aufstrebender Schwellenländer antworteten. Dabei zeigt sich, dass die privaten Kreditbanken stärker reagierten als die Landesbanken. Im Gegensatz dazu war das Verhalten der Banken während der Russlandkrise stark durch einen generellen Rückzug aus allen Schwellenländern gekennzeichnet, wobei Unterschiede zwischen den beiden untersuchten Bankengruppen weniger deutlich als während der Asienkrise zutage traten.

Suggested Citation

  • Frank Heid & Thorsten Nestmann & Natalja von Westernhagen & Beatrice Weder, 2007. "German Bank Lending during Emerging Market Crises: A Bank Level Analysis," Credit and Capital Markets, Credit and Capital Markets, vol. 40(3), pages 381-405.
  • Handle: RePEc:kuk:journl:v:40:y:2007:i:3:p:381-405
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    References listed on IDEAS

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    1. Morris Goldstein & Carmen M. Reinhart, 2000. "Assessing Financial Vulnerability: An Early Warning System for Emerging Markets," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 100.
    2. Giancarlo Corsetti & Paolo Pesenti & Nouriel Roubini, 1998. "What Caused the Asian Currency and Financial Crisis? Part I: A Macroeconomic Overview," NBER Working Papers 6833, National Bureau of Economic Research, Inc.
    3. Bussiere, Matthieu & Fratzscher, Marcel, 2006. "Towards a new early warning system of financial crises," Journal of International Money and Finance, Elsevier, vol. 25(6), pages 953-973, October.
    4. Ranil M Salgado & Luca A Ricci & Francesco Caramazza, 2000. "Trade and Financial Contagion in Currency Crises," IMF Working Papers 00/55, International Monetary Fund.
    5. Graciela L. Kaminsky & Carmen M. Reinhart, 2001. "Bank Lending and Contagion: Evidence from the Asian Crisis," NBER Chapters,in: Regional and Global Capital Flows: Macroeconomic Causes and Consequences, NBER-EASE Volume 10, pages 73-99 National Bureau of Economic Research, Inc.
    6. Graciela L. Kaminsky & Carmen M. Reinhart & Carlos A. Végh, 2003. "The Unholy Trinity of Financial Contagion," Journal of Economic Perspectives, American Economic Association, vol. 17(4), pages 51-74, Fall.
    7. Hans-Werner Sinn, 1999. "The German State Banks," Books, Edward Elgar Publishing, number 1692.
    8. Kaminsky, Graciela L. & Reinhart, Carmen M., 2000. "On crises, contagion, and confusion," Journal of International Economics, Elsevier, vol. 51(1), pages 145-168, June.
    9. repec:wsi:wschap:9789814749589_0011 is not listed on IDEAS
    10. Garry J. Schinasi & R. Todd Smith, 2000. "Portfolio Diversification, Leverage, and Financial Contagion," IMF Staff Papers, Palgrave Macmillan, vol. 47(2), pages 1-1.
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    Cited by:

    1. Herrmann, Sabine & Mihaljek, Dubravko, 2010. "The determinants of cross-border bank flows to emerging markets: New empirical evidence on the spread of financial crises," Discussion Paper Series 1: Economic Studies 2010,17, Deutsche Bundesbank.
    2. Christian Wildmann, 2011. "What drives portfolio investments of German banks in emerging capital markets?," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 25(2), pages 197-231, June.
    3. Wildmann, Christian, 2010. "What drives portfolio investments of German banks in emerging capital markets?," Discussion Paper Series 2: Banking and Financial Studies 2010,04, Deutsche Bundesbank.
    4. Sabine Herrmann & Dubravko Mihaljek, 2013. "The determinants of cross-border bank flows to emerging markets," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 21(3), pages 479-508, July.

    More about this item

    JEL classification:

    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F30 - International Economics - - International Finance - - - General

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