international and global activities of banks across countries. This paper develops and tests a theoretical model that explains this … variation from an international trade theory perspective. In the model, banking across borders arises from differences in factor … differential effects of capital account and banking sector liberalization on banks' foreign positions and international capital …

in measurement, the international MPK puzzle persists. We show that the measurement of MPKs in their framework is … eliminate the MPK differential remains a persistent international puzzle. We examine the quantitative importance of financial …

In this paper we reexamine the Feldstein-Horioka finding of limited international capital mobility by using a broader …