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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19472| Title: | FDI versus cross-border financial services: The globalisation of German banks |
| Keywords: | F21 F0 ddc:330 international banking gravity equations foreign direct investment cross-border financial services Bank Globalisierung Bankgeschäft international Direktinvestition Deutschland Welt |
| Issue Date: | 16-Oct-2013 |
| Description: | The choice between foreign direct investment (FDI) and exports has been a recurrent theme in the literature on international trade, yet few studies have analysed this choice at the level of the individual firm. This paper uses a new dataset to study the FDI-versus-exports decision for banks. We use data on the foreign direct investment stocks and the cross-border provision of financial services of German banks for the period 1997-2000 to describe the regional pattern of banks' international activities. We find that country- and bank-specific variables capturing size have a major impact on banks' foreign activities. The results are consistent with the hypothesis that the realisation of economies of scale and the provision of trade-related finance shape globalisation patterns. Greater cultural and geographical distance, by contrast, potentially limit the international expansion of banks. Our results also suggest that FDI and cross-border services are complements rather than substitutes. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/19472 |
| Other Identifiers: | http://hdl.handle.net/10419/19472 ppn:385063210 RePEc:zbw:bubdp1:1818 |
| Appears in Collections: | EconStor |
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