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Alberto Franco Pozzolo | Bank size and financial cross-border linkages

作者:     日期:2017-05-27    来源:

Alberto Franco Pozzolo | 第199期双周学术论坛:Bank size and financial cross-border linkages

 

  一、主题:Bank size and financial cross-border linkages

  二、主讲人:Alberto Franco Pozzolo,意大利莫利泽大学(University of Molise)教授、经济系系主任、学术委员会主席,并担任意大利大学联合会的协调专员。曾供职于意大利中央银行,担任高级经济学家职位。他长期从事银行学与国际经济学的研究,学术成果斐然,在国际顶级经济金融学术期刊Journal of Monetary Economics, European Economic Review, Journal of International Economics, Journal of Banking and Finance等发表论文数十篇,同时还为新帕尔格雷夫辞典拟写Banking Industry一词。

  三、时间:2017年5月31日(周三),12:30-13:30

  四、地点:学院南路校区主教学楼910会议室

  五、主持人:苟琴,中央财经大学金融学院讲师

  文章摘要:We estimate the effect of the distribution of banks by asset size on a country's propensity to engage in cross-border banking, using a two step gravity regression framework. We find that the asymmetry of the distribution of banks' size is highly related to cross-border bank holdings, in addition to the standard variables normally considered in the gravity literature, such as country size and distance. Countries where the distribution of banks by asset size is more skewed to the right (few large banks) are recipients of a larger amount of funds from foreign banks. These results are robust across different subsets of countries, different time periods (i.e., before and after the financial crisis), alternative measures of banks size and to the inclusion of control variables reflecting market concentration. Fixed costs in accessing international markets is the most likely explanation of our results. Instead, we do not find robust evidence that the distribution of banks in source countries is related to the size of financial stakes held by banks abroad.