Foreign bank penetration in emerging economies has been rising rapidly since the 1990s. This thesis examines its effects on host macroeconomic stability, the transmission of monetary policy through the bank lending channel, and its effects on the output in the host countries.The first essay...

Under current law, domestic deposits of federally insured banks are subject to a 1/12th of one percent per annum insurance assessment, while foreign deposits are not. This paper examines the arguments for and against extending this assessment to foreign branch deposits of insured banks, which in...

Foreign direct investment (FDI) into the financial sectors of emerging economies soared during the 1990s, leaving many countries with banking sectors owned primarily by foreign institutions. While the implications of FDI into emerging markets are well documented, less clearly understood is how...

Historically, countries have relied on seigniorage. In this paper, we explore a set of features in which a benevolent government will rely on seigniorage. We use a simple overlapping generations model with return-dominated money. Money is valued because of a reserve requirement. The government...