financial markets. Yet, empirical evidence on the factors determining the maturity of capital flows is scant. This paper …

efficiency of the least efficient bank active in a host country increases the greater the impediments to banking across borders …

more open to foreign entry. In the model, banking sector integration leads to bank exit and entry and convergence in the … return on loans and funding costs across countries. Bank heterogeneity matters for the associated welfare gains. Results … suggest that differences in bank efficiencies across countries drive banking across borders, that fixed costs are crucial for …

-section dimension of information costs and changes in regulations, in particular, for intra-EU asset holdings. While EU membership per … a positive impact. While regulations and information costs are important for all reporting countries, their relative …

-section dimension of information costs and changes in regulations, in particular, for intra-EU asset holdings. While EU membership per … a positive impact. While regulations and information costs are important for all reporting countries, their relative …

Germany is world champion in exporting capital ("Exportweltmeister"). No other country invests larger amounts of … savings outside its borders. However, Germany plays in the third division when it comes to investment performance, as we show … in this paper. We study the returns on German foreign investments from 1950 to 2017 and find that: (1) Germany's annual …