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The Norwegian Banks in the Nordic Consortia: A Case of International Strategic Alliances in Banking

  • Siv Fagerland Jacobsen
  • Adrian E. Tschoegl

Despite the scholarly interest in joint ventures and strategic alliances, the consortium bank movement represents an under-researched phase in post-war banking history. From 1964 to the mid-1980s, many of the largest banks in the world, including the Nordic banks, entered into international strategic alliances. Almost all of these alliances are now defunct. We follow the Norwegian banks in the Nordic consortia and find that domestic rivals do not cooperate but international rivals do. Legal prohibitions in the Nordic countries on entry by foreign banks underpinned the cooperation. The cooperation broke down when changes in domestic regulations permitted the Nordic banks to establish operations in each others' domestic markets.

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File URL: http://fic.wharton.upenn.edu/fic/papers/97/9739.pdf
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Paper provided by Wharton School Center for Financial Institutions, University of Pennsylvania in its series Center for Financial Institutions Working Papers with number 97-39.

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Date of creation: Aug 1997
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Handle: RePEc:wop:pennin:97-39
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  1. repec:ner:tilbur:urn:nbn:nl:ui:12-175839 is not listed on IDEAS
  2. Bruce Kogut & Harbir Singh, 1988. "The Effect of National Culture on the Choice of Entry Mode," Journal of International Business Studies, Palgrave Macmillan, vol. 19(3), pages 411-432, September.
  3. Bradford Cornell & Richard Roll, 1981. "Strategies for Pairwise Competition in Markets and Organizations," Bell Journal of Economics, The RAND Corporation, vol. 12(1), pages 201-213, Spring.
  4. Engwall, Lars & Johanson, Jan, 1990. "Banks in industrial networks," Scandinavian Journal of Management, Elsevier, vol. 6(3), pages 231-244.
  5. repec:ner:tilbur:urn:nbn:nl:ui:12-80677 is not listed on IDEAS
  6. Nakamura, Masao & Shaver, J. Myles & Yeung, Bernard, 1996. "An empirical investigation of joint venture dynamics: Evidence from U.S.-Japan joint ventures," International Journal of Industrial Organization, Elsevier, vol. 14(4), pages 521-541, June.
  7. Engwall, L. & WallenstÄl, M., 1988. "Tit for tat in small steps: the internationalization of Swedish banks," Scandinavian Journal of Management, Elsevier, vol. 4(3-4), pages 147-155.
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