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Erscheinungsjahr: 
2014
Schriftenreihe/Nr.: 
ZEW Discussion Papers No. 14-006
Verlag: 
Zentrum für Europäische Wirtschaftsforschung (ZEW), Mannheim
Zusammenfassung: 
The global financial crisis has brought to an end a rather unprecedented period of banks' international expansion. We analyze the effects of the crisis on international banking. Using a detailed dataset on the international assets of all German banks with foreign affiliates for the years 2002-2011, we study bank internationalization before and during the crisis. Our data allow analyzing not only the international assets of the banks' headquarters but also of their foreign affiliates. We show that banks have lowered their international assets, both along the extensive and the intensive margin. This withdrawal from foreign markets is the result of changing market conditions, of policy interventions, and of a weakly increasing sensitivity of banks to financial frictions.
Schlagwörter: 
international banking
gravity model
financial frictions
JEL: 
G01
F34
G21
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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