At Last the Internationalization of Retail Banking? The Case of the Spanish Banks in Latin America

Guillén, Mauro F.; Tschoegl, Adrian E.

doi:10.2139/ssrn.184874

Cited by 53 publications

(43 citation statements)

References 27 publications

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“…Privatization has paved the way of many Spanish banks into Latin America (Guillen and Tschoegl 1999), and has been one of the reasons for the high market shares of foreign banks in the transition economies of Eastern Europe. 5 Since we did not have comprehensive data on the initiation of bank privatization programs for our cross-section of countries, we use two proxies available.…”

Section: Regulationsmentioning

confidence: 99%

Cross-border bank mergers: What lures the rare animal?

Buch

Delong

2004

Journal of Banking & Finance

238

115

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Section: Regulationsmentioning

confidence: 99%

Cross-border bank mergers: What lures the rare animal?

Buch

Delong

2004

Journal of Banking & Finance

238

115

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“…Subsequent research by Tripe et al (2009) found that long established foreign-owned banks were not even identifi ed as foreign owned. In a similar vein, Guillen and Tschoegl (2000) found that incumbency permitted a Spanish bank to pursue an acquisition and market penetration strategy in Latin America that was more aggressive (and successful) than banks with weaker ties to the region.…”

Section: Introductionmentioning

confidence: 85%

The Performance of Foreign-Owned Banks in Host Country Economies

Fišerová¹,

Teplý²,

Tripe³

2015

Prague Economic Papers

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Abstract:The paper deals with the phenomenon of foreign bank ownership, which is prevalent in the countries of Central, Eastern and South Eastern European region as well as in New Zealand. Using a sample of 17 countries and fi ltering out more than 140 domestically operating foreign-owned banks, we examine the determinants of their performance in relation to host country conditions over the period of seven years between 2005 and 2011. Based on our knowledge, we use the largest data set in this respect compared to other researchers. Using system GMM and fi xed eff ects models, we reveal that macroeconomic fundamentals of the host country aff ect the foreign-owned banks' performance but do not suffi ce in explaining it fully. This result points out that sound banks with higher operational effi ciency operating in growing economies with low infl ation rate tend to perform better than their peers.Keywords: banks and banking, bank performance measurement, fi xed eff ects model, foreign ownership, generalized method of moments. JEL Classifi cation: G21, L25

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“…Another potential source of efficiencies, mentioned in the theoretical literature, are common product and distribution channels. Guillén and Tschoegl (1999) document the relevance of these efficiencies for the case of Spanish banks' expansion into Latin America. Focarelli and Pozzolo (2000) findings also support their importance, showing that international banks from OECD countries prefer to expand in less efficient banking system.…”

Section: Microeconomic/behavioural Determinantsmentioning

confidence: 98%

“…A common origin may lead to advantages in product differentiation (Swoboda (1990)), knowledge transfer (Guillén and Tschoegl (1999)) or even to a reduction in the cost of capital. This could be the case if the funding locally is easily obtained because of the cultural proximity.…”

Section: Microeconomic/behavioural Frameworkmentioning

confidence: 99%

Determinants and Impact of Financial Sector FDI to Emerging Economies: A Home Country's Perspective

Garcı́a-Herrero

Navia

2003

SSRN Journal

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This paper reviews the theoretical literature explaining financial FDI, as well as the empirical results on the determinants of financial FDI and its potential effects for the home country. From this revision, we conclude that, at the present stage, the existing theoretical paradigms need to be adapted to explain the recent surge in international banks' local operations in emerging countries financial sectors. Macroeconomic and risk diversification theories would seem particularly well-suited to explain this reality. The empirical literature on financial FDI has concentrated on bank-specific factors and much less so on macroeconomic determinants, particularly push factors where generally only general FDI literature is available. The survey draws on this literature in those cases where no specific results for financial FDI exist. Finally, the effects of financial FDI on the home country are virtually unknown. The literature on general FDI has focused on employment, trade and investment effects, yet the consequences on the profitability and systemic risk of home's financial system remain a topic for debate.

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At Last the Internationalization of Retail Banking? The Case of the Spanish Banks in Latin America

Cited by 53 publications

References 27 publications

Cross-border bank mergers: What lures the rare animal?

Cross-border bank mergers: What lures the rare animal?

The Performance of Foreign-Owned Banks in Host Country Economies

Determinants and Impact of Financial Sector FDI to Emerging Economies: A Home Country's Perspective

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