European Banks In The Developing World
This paper looks at the recent expansion of European banks in the developing countries. It argues that no specific European influence is apparent in emerging markets, other than a declining financial interest in former colonies. Actual developments in emerging markets are determined by domestic factors, financial liberalisation, and capital account liberalisation. The sole exception is provided by monetary unions of France and Portugal with former colonies. These highlight the drying up of local money markets as local banking becomes a branch activity of global banks. This is a paradoxical result, since financial liberalisation is usually supposed to result in financial development. It also suggests financial liberalisation may not be the best way of supporting the under-banked small and medium enterprise sector in developing countries.
|Date of creation:||Oct 2007|
|Contact details of provider:|| Postal: Thornhaugh Street, London WC1H OXG|
Web page: http://www.soas.ac.uk/economics/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jan Toporowski & Giovanni Cozzi, 2006.
"The Balance Sheet Approach to Financial Crises in Emerging Markets,"
Economics Working Paper Archive
wp_485, Levy Economics Institute.
- Giovanni Cozzi & Jan Toporowski, 2006. "The Balance Sheet Approach To Financial Crises In Emerging Markets," Working Papers 149, Department of Economics, SOAS, University of London, UK.
When requesting a correction, please mention this item's handle: RePEc:soa:wpaper:151. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Duo QIN)
If references are entirely missing, you can add them using this form.