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Why do foreign banks withdraw from other countries? A panel data analysis

Hryckiewicz, Aneta; Kowalewski, Oskar - 2010

This paper describes the trends in foreign bank ownership across the world and presents, for the first time, empirical evidence of the causes of multinational banks' exits from other countries. Using panel data for 149 closed or divested foreign bank subsidiaries across 54 countries from 1997 to...

Persistent link: https://www.econbiz.de/10010270480

Deregulation, Entry of Foreign Banks and Bank Efficiency in Australia

Sturm, Jan-Egbert; Williams, Barry - 2002

This study considers the efficiency of banking in Australia during the post-deregulation period 1988-2001. Since 1986 restrictions upon foreign bank entry and foreign ownership have been affectively abolished. Using Data Envelopment Analysis (DEA) and Malmquist Indices, we find that the new...

Persistent link: https://www.econbiz.de/10010315740

External monetary shocks and monetary integration: Evidence from the Bulgarian currency board

Minea, Alexandru; Rault, Christophe - 2011

Starting July the 1st 1997, Bulgaria adopted a Currency Board (CB) monetary system. This paper aims at investigating if the adoption of the CB monetary system, which involves the cost of loosing monetary autonomy, has provided a relatively better (with respect to other CEEC) monetary integration...

Persistent link: https://www.econbiz.de/10010274842

Equity Risk Premium and Regional Integration

Arouri, Mohamed El Hedi; Teulon, Frédéric; Rault, … - 2013

This article contributes to the literature on stock market integration by developing and estimating a capital asset pricing model with segmentation effects in order to assess stock market segmentation and its effects on risk premia at the regional level. We show that the estimated degrees of...

Persistent link: https://www.econbiz.de/10010292697

A Spatial Perspective on European Integration: Heterogeneous Welfare and Migration Effects from the Single Market and the Brexit

Henkel, Marcel; Seidel, Tobias - 2016

We use a quantitative model to study the implications of European integration for welfare and migration flows across 1,318 regions. The model suggests that an increase of trade barriers to the level of 1957 reduces welfare by about 1-2 percent on average, depending on the presumed trade...

Persistent link: https://www.econbiz.de/10011615844

Is Hard Brexit Detrimental to EU Integration? Theory and Evidence

Mikolajun, Irena; Viaene, Jean-Marie - 2018

In the struggle between the forces of free trade and the restrictive influence of insularism the latter recently seems to have the upper hand. This is illustrated by the referendum of June 23, 2016 where the United Kingdom (UK) voted to leave the European Union (EU). In this paper we evaluate...

Persistent link: https://www.econbiz.de/10011931949

The political economy of regional integration projects at borders where rich and poor meet: the role of cross-border shopping and community sorting

Dascher, Kristof; Haupt, Alexander - 2008

At borders where rich and poor countries meet, services prices differ hugely. In principle, price differentials could be exploited to mutual benefit, offering improved job opportunities to the poor as well as better shopping opportunities to the rich. However, cross-border shopping is often...

Persistent link: https://www.econbiz.de/10010264347

Tax rate and tax base competition for foreign direct investment

Egger, Peter; Raff, Horst - 2011

This paper argues that the large reduction in corporate tax rates and only gradual widening of tax bases in many countries over the last decades are consistent with tougher international competition for foreign direct investment (FDI). To make this point we develop a model in which governments...

Persistent link: https://www.econbiz.de/10010278857

Economic Growth and Pollutant Emissions: New Panel Evidence from the Union for the Mediterranean Countries

Abdeljelil, Mouna Ben; Rault, Christophe; Belaïd, Fateh - 2023

This paper investigates the existence of an environmental Kuznets curve (EKC) and its robustness for 28 countries of the Union for the Mediterranean (UfM) over the recent period. Our methodology relies on four recent estimation methods for non-stationary panel data and includes four pollutants...

Persistent link: https://www.econbiz.de/10014290111

Strategic outsourcing, profit sharing and equilibrium unemployment

Koskela, Erkki; König, Jan - 2007

We analyze the following questions associated with outsourcing and profit sharing under imperfect labour markets. How … does strategic outsourcing influence wage formation, profit sharing and employee effort when firms commit to optimal profit … sharing before wage formation or decide for profit sharing after wage formation. What is the relationship between outsourcing …

Persistent link: https://www.econbiz.de/10010264267