Kiel Working Papers, Kiel Institute for World Economics
No 1011:
Information or Regulation: What Is Driving the International Activities of Commercial Banks?
Claudia M. Buch
Abstract: Information costs and regulatory barriers are the main
distinguishing features of international financial markets as compared to
national financial markets. This paper presents a simple model of the
impact of these factors on banksÂ’ cross-border activities and provides
empirical evidence. Our dataset allows us to capture both the times-series
and the cross-section dimension of information costs and changes in
regulations, in particular, for intra-EU asset holdings. While EU
membership per se seems to have had a negative impact on cross-border
banking activities, the adoption of the Single Market clearly had a
positive impact. While regulations and information costs are important for
all reporting countries, their relative importance differs between
countries.
Keywords: cross-border banking, information costs, panel cointegration; (follow links to similar papers)
JEL-Codes: F21; G21; (follow links to similar papers)
51 pages, November 2000
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