In this study, we investigate how governance quality determines the lending behavior of foreign-owned banks in emerging host markets. We do this by employing a dataset that includes foreign banks from 45 developed markets operating in 58 emerging markets. We incorporate direct measures of...

This paper explains the strategic penetration through mergers and acquisitions in international financial large corporate in emerging countries like Mexico and the clash of European and Mexican management cultures. As a case study is taken as a basis, the merger and consolidation of the Spanish...

This paper explores how foreign bank penetration impacts the Vietnamese banking sector. By utilizing the comprehensive dataset of the Vietnamese banking system during the period from 2005 to 2020, this study provides robust evidence on the impacts of foreign bank penetration on competition and...

This paper reviews the rapidly growing empirical literature on the drivers of capital flows to emerging markets. The empirical evidence is structured based on the recognition that the drivers of capital flows vary over time and across different types of capital flows. The drivers are classified...

This paper examines the role of U.S. monetary policy in determining the incidence of emerging market crises. A negative binomial count model and a panel logit model are estimated to analyze the determinants of currency crises, banking crises, and sovereign defaults in a group of 27 emerging...

A new dimension to currency mismatches has been created by policies that have increased global liquidity. Lower policy rates and a huge expansion in central bank balance sheets - purchases of domestic bonds in the advanced economies and of foreign assets in the emerging market economies (EMEs) -...

When the U.S. economy sneezes, do emerging markets catch a cold? We show that economic news, and not just monetary policy, in the United States affects financial conditions in emerging markets. News about U.S. employment has the strongest effects, followed by news about economic activity and...

The investment choices of large asset owners such as pension funds, sovereign wealth funds and endowments, are, to a large extent ‘guided’ and pre-determined by the systematic use of old- fashioned indices or benchmarks designed by a small set of Anglo- American ‘index providers’ –...

In this paper, we investigate the degree of real economic interdependence between emerging Asia and major industrial countries to shed light on the heated debate over the "decoupling" of emerging Asia. We first document the evolution of macroeconomic interdependence for emerging Asian economies...

Growth in emerging market economies (EMEs) is set to durably slow from the rates observed over 2010-12 as cyclical effects fade, potential growth declines and external financing conditions tighten. Large negative current account balances make some EMEs vulnerable to sudden reversals in capital...