banking relative to international banking. Its key predictions regarding the cross-country pattern of foreign bank asset and … international and global banking. International banking, where banks raise capital in the home market and lend it abroad, is driven … locally in the foreign market, arises from differences in country-level bank efficiency. Together, these two driving forces …

affiliates in diverse foreign markets. We use the Great Recession as an opportunity to identify the balance-sheet shocks to … parent banks in the United States and then explore which features of foreign affiliates are associated with protecting, for … example, their status as important locations in sourcing funding or as destinations for foreign investment activity. We show …