Foreign banks, financial crises and macroeconomic fluctuations

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dc.citation.epage479en_US
dc.citation.issueNumber3en_US
dc.citation.spage447en_US
dc.citation.volumeNumber24en_US
dc.contributor.authorÖnder, Z.en_US
dc.contributor.authorÖzyıldırım, S.en_US
dc.date.accessioned2018-04-12T10:38:38Z
dc.date.available2018-04-12T10:38:38Z
dc.date.issued2016en_US
dc.departmentDepartment of Managementen_US
dc.description.abstractUnderstanding the implications of increased foreign bank presence is especially compelling in periods of financial crisis. In this paper, we explore this issue by examining the relationship between the involvement of foreign banks in the banking systems and the volatility of key macroeconomic variables in normal and crisis periods. Using a sample of 20 Emerging European countries from 1998 to 2013, we find that an increase in the assets of foreign banks in the banking system reduces output and consumption growth volatility in general but does not significantly affect the volatility of investments. However, these banks were found to play a significant role in increasing output, consumption and investment volatility in 2009. Our findings suggest that foreign banks’ harmful impact during the global crisis was only temporary and that they seem to help Emerging European countries stabilize macroeconomic volatility in normal times and after the global crisis.en_US
dc.identifier.doi10.1111/ecot.12096en_US
dc.identifier.issn0967-0750
dc.identifier.urihttp://hdl.handle.net/11693/36400
dc.language.isoEnglishen_US
dc.publisherBlackwell Publishing Ltden_US
dc.relation.isversionofhttp://dx.doi.org/10.1111/ecot.12096en_US
dc.source.titleEconomics of Transitionen_US
dc.subjectCrisisen_US
dc.subjectEmerging europeen_US
dc.subjectForeign banksen_US
dc.subjectMacroeconomic volatilityen_US
dc.subjectBankingen_US
dc.subjectConsumption behavioren_US
dc.subjectEconomic growthen_US
dc.subjectFinancial crisisen_US
dc.subjectInvestmenten_US
dc.subjectMacroeconomicsen_US
dc.subjectEuropeen_US
dc.titleForeign banks, financial crises and macroeconomic fluctuationsen_US
dc.typeArticleen_US
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