| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21981 |
| 来源ID | Working Paper 21981 |
| Does Government Intervention Affect Banking Globalization? | |
| Anya Kleymenova; Andrew K. Rose; Tomasz Wieladek | |
| 发表日期 | 2016-02-15 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Using data from British and American banks, we provide empirical evidence that government intervention affects banking globalization along three dimensions: depth, breadth and persistence. We examine depth by studying whether a bank’s preference for domestic, as opposed to external, lending (funding) changes when it is subjected to a large public intervention, such as bank nationalization. Our results suggest that, following nationalization, non-British banks allocate their lending away from the UK and increase their external funding. Second, we find that nationalized banks from the same country tend to have portfolios of foreign assets that are spread across countries in a way that is far more similar than either private banks from the same country or nationalized banks from different countries, consistent with an impact on the breadth of globalization. Third, we study the Troubled Asset Relief Program (TARP) to examine the persistence of the effect of large government interventions. We find weak evidence that upon entry into the TARP, foreign lending declines but domestic does not. This effect is observable at the aggregate level, and seems to disappear upon TARP exit. Collectively, this evidence suggests that large government interventions affect the depth and breadth of banking globalization, but may not persist after public interventions are unwound. |
| 主题 | International Economics ; International Finance ; Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w21981 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579655 |
| 推荐引用方式 GB/T 7714 | Anya Kleymenova,Andrew K. Rose,Tomasz Wieladek. Does Government Intervention Affect Banking Globalization?. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w21981.pdf（420KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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