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dc.contributor.authorWezel, Torstenen_US
dc.date.accessioned2009-01-28T15:58:46Z-
dc.date.available2009-01-28T15:58:46Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/19468-
dc.description.abstractThe paper investigates the factors crucial in the locational decisions of multinational German banks in selected emerging markets of central and eastern Europe, Latin America and Asia between 1994 and 2001. Emphasis is placed on testing variables of macroeconomic and financial sector risk along with measures of bank-client integration and host country market characteristics. Results indicate that FDI by non-banks exerted a strong pull effect on banking FDI flows, as did highly developed financial markets and a low country risk. No particularly meaningful effects are found in the sample for per capita GDP or trade linkages. A strong case can be made for a variable taken from the "early warning indicators" literature which measures the backing of short-term banking deposits by international currency reserves. In almost all regressions, this financial crisis variable turns out be highly negatively correlated with FDI flows. Disaggregation of the sample by region illustrates that the factors which are at work differ between the continents. Comparing pre- and post-Asian-crisis time periods, it is found that both variables of country riskiness gain significance in the later sub-sample, with the result being especially pronounced for the measure of financial vulnerability.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesDiscussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,01en_US
dc.subject.jelG21en_US
dc.subject.jelF21en_US
dc.subject.ddc330en_US
dc.subject.keywordforeign direct investmenten_US
dc.subject.keywordbanksen_US
dc.subject.keywordemerging marketsen_US
dc.subject.keywordmacroeconomic risken_US
dc.subject.stwInternationale Banken_US
dc.subject.stwDirektinvestitionen_US
dc.subject.stwDeutschen_US
dc.subject.stwFinanzsektoren_US
dc.subject.stwBankrisikoen_US
dc.subject.stwLänderrisikoen_US
dc.subject.stwInternationale Wirtschaftsbeziehungenen_US
dc.subject.stwSchätzungen_US
dc.subject.stwAufstrebende Märkteen_US
dc.subject.stwDeutschlanden_US
dc.subject.stwSchwellenländeren_US
dc.titleForeign Bank Entry into Emerging Economies: An Empirical Assessment of the Determinants and Risks Predicated on German FDI Dataen_US
dc.typeWorking Paperen_US
dc.identifier.ppn378429507en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp1:1542-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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