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Cross-border bank lending, risk aversion and the financial crisis

Düwel, Cornelia; Frey, Rainer; Lipponer, Alexander - 2011

This study investigates the determinants of adjustments in the provision of cross-border loans by internationally active banks. For the period from 2002 to 2010, we look at quarterly transaction data (excluding valuation effects) on long-term loans issued by the largest 69 German banking groups...

Persistent link: https://www.econbiz.de/10010307859

The determinants of cross-border bank flows to emerging markets: New empirical evidence on the spread of financial crises

Herrmann, Sabine; Mihaljek, Dubravko - 2010

Europe from 1993 to 2008. The empirical analysis suggests that global as well as country specific factors are significant … cross-border loans from central and eastern Europe was more limited compared to Asia and Latin America, in large measure … because of the higher degree of financial and monetary integration in Europe, and relatively sound banking systems in the …

Persistent link: https://www.econbiz.de/10010301350

FDI versus cross-border financial services: The globalisation of German banks

Buch, Claudia M.; Lipponer, Alexander - 2004

The choice between foreign direct investment (FDI) and exports has been a recurrent theme in the literature on international trade, yet few studies have analysed this choice at the level of the individual firm. This paper uses a new dataset to study the FDI-versus-exports decision for banks. We...

Persistent link: https://www.econbiz.de/10010295632

Consumption Smoothing Across States and Time: International Insurance vs. Foreign Loans

von Furstenberg, George M. - 2004

When countries, and macroeconomic models, open up to international capital markets, the welfare gains available through completion of financial markets for contingencies potentially are much greater than those available from access to noncontingent international borrowing. Intercasual insurance,...

Persistent link: https://www.econbiz.de/10010295640

International diversification at home and abroad

Cai, Fang; Warnock, Francis E. - 2005

We analyze foreigners' and domestic institutional investors' positions in U.S. equities. Controlling for many factors, we uncover a common preference for large firms and firms that are diversified internationally. The domestic preference for internationally diversified firms implies that...

Persistent link: https://www.econbiz.de/10010295674

Multinational enterprises international trade, and productivity growth: Firm-level evidence from the United States

Keller, Wolfgang; Yeaple, Stephen R. - 2005

We estimate international technology spillovers to U.S. manufacturing firms via imports and foreign direct investment (FDI) between the years of 1987 and 1996. In contrast to earlier work, our results suggest that FDI leads to substantial productivity gains for domestic firms. The size of FDI...

Persistent link: https://www.econbiz.de/10010295675

Business cycles and FDI: evidence from German sectoral data

Buch, Claudia M.; Lipponer, Alexander - 2005

Globalization has effected business cycle developments in OECD countries and has increased activities of firms across national borders. This paper analyzes whether these two developments are linked. We use a new firm-level dataset on the foreign activities of German firms to test whether foreign...

Persistent link: https://www.econbiz.de/10010295678

Firm-level evidence on international stock market comovement

Brooks, Robin; Del Negro, Marco - 2005

We explore the link between international stock market comovement and the degree to which firms operate globally. Using stock returns and balance sheet data for companies in 20 countries, we estimate a factor model that decomposes stock returns into global, country-specific and industry-specific...

Persistent link: https://www.econbiz.de/10010295679

How safe was the "safe haven"? Financial market liquidity during the 1998 turbulences

Upper, Christian - 2000

The turbulences in the international financial markets during the summer and autumn of 1998 put the price formation and liquidity provision mechanism in many markets under severe strain. As part of the large-scale portfolio rebalancing that took place, investors shifted a large part of their...

Persistent link: https://www.econbiz.de/10010295689

Budgetary Policy and Unemployment Dynamics

von Thadden, Leopold; Kaas, Leo - 2001

We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment dynamics are affected by two types of budgetary policies. In line with traditional reasoning, a balanced-budget rule amplifies fluctuations in the short run, whereas an...

Persistent link: https://www.econbiz.de/10010295705