| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11940 |
| DP11940 Global Banking: Endogenous Competition and Risk Taking | |
| Ester Faia; Gianmarco Ottaviano | |
| 发表日期 | 2017-03-25 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | Direct involvement of global banks in local retail activities through a “bricks and mortar” business model can reduce risk-taking by promoting local competition. We develop this argument through a dynamic model in which multinational banks may choose to operate in different imperfectly competitive national markets through the horizontal expansion of their deposit and loan activities. In making this choice, banks compare charter values and entry barriers. When foreign operations entail additional monitoring costs, multinational banks face predatory lending incentives that are stronger the smaller their market shares are. The model generates predictions that are consistent with the “bricks and mortar” argument as long as the expansionary impact of competition on multinational banks’ aggregate future discounted profits through larger scale is strong enough to offset its parallel contractionary impact through lower loan-deposit return margin. This effect is stronger with perfectly than imperfectly correlated loans’ risk, with exogenous than endogenous exit, with horizontal than vertical expansion (cross-border lending). |
| 主题 | Financial Economics ; International Macroeconomics and Finance ; International Trade and Regional Economics |
| 关键词 | Global bank Oligopoly Oligopsony Endogenous risk taking Expectation of rents extraction Appetite for leverage |
| URL | https://cepr.org/publications/dp11940 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540752 |
| 推荐引用方式 GB/T 7714 | Ester Faia,Gianmarco Ottaviano. DP11940 Global Banking: Endogenous Competition and Risk Taking. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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