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The geography of European cross-border banking : the impact of cultural and political factors

  • We investigate the determinants of European banking market integration with a focus on the potentially limiting role of cultural and political factors. Employing a unique data set of European cross-border loans and deposits, the study uses various gravity models that are augmented by societal proxies. While trade-theoretic reasoning can explain part of the surge in cross-border banking, we demonstrate that distance and borders still matter in the geography of European cross-border banking. Moreover, we can identify cultural differences and different legal family origin as important barriers to integration.

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Author:Sylvia Heuchemer, Stefanie Kleimeier, Harald Sander
Year of Completion:2009
Series (Serial Number):GLOBUS working paper (2009,2)
Document Type:Working Paper
Date of Publication (online):2012/02/15
GND-Keyword:Bank; Darlehen; Integration; Internationale Verflechtung
Tag:Banking market integration; Cross-border deposits; Cross-border loans; Culture; European single market; Gravity model
Institutes:Wirtschafts- und Rechtswissenschaften (F04) / Fakultät 04 / Schmalenbach Institut für Wirtschaftswissenschaften
Dewey Decimal Classification:300 Sozialwissenschaften / 330 Wirtschaft
JEL-Classification:C Mathematical and Quantitative Methods / C2 Single Equation Models; Single Variables / C21 Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions (Updated!)
F International Economics / F3 International Finance / F34 International Lending and Debt Problems
F International Economics / F3 International Finance / F36 Financial Aspects of Economic Integration
K Law and Economics / K2 Regulation and Business Law / K20 General
Z Other Special Topics / Z1 Cultural Economics; Economic Sociology; Economic Anthropology / Z10 General
Open Access:Open Access