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Does Ownership Explain Bank M&A? The Case of Domestic Banks and Foreign Banks in Brazil

In: Financial Liberalization and Economic Performance in Emerging Countries

Author

Listed:
  • Fatima Cardias Williams
  • Jonathan Williams

Abstract

Higher levels of banking sector consolidation are one outcome of financial liberalization and technological developments over the past quarter century. Spawning a global wave of consolidation, beginning in the US and Europe in the mid-1980s before reaching emerging markets in the 1990s, liberalization and technology continue to raise competition while the market for corporate control reflects newer influences, such as cross-sector and cross-border financial linkages.1 Gelos and Roldós (2004) note three differences between the consolidation processes in mature and emerging markets. (1) cross-border mergers and acquisitions (M&A) is a more important source of consolidation in emerging markets; (2) consolidation is used to restructure emerging market banking sectors following episodes of financial crisis rather than to eliminate excess capacity; (3) emerging market governments are active participants in the consolidation process.

Suggested Citation

  • Fatima Cardias Williams & Jonathan Williams, 2008. "Does Ownership Explain Bank M&A? The Case of Domestic Banks and Foreign Banks in Brazil," Palgrave Macmillan Books, in: Philip Arestis & Luiz Fernando Paula (ed.), Financial Liberalization and Economic Performance in Emerging Countries, chapter 9, pages 194-215, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-22774-3_9
    DOI: 10.1057/9780230227743_9
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