Edited by Thorsten Beck - Vox

The Future of Banking
into the void left by advanced country banks, increasing their relative importance as
foreign investors. The global financial system is therefore likely to witness a shift
towards a stronger dominance by emerging-market banks, especially within their own
geographical regions.
Disclaimer: The views expressed in this column are those of the author only and do not
necessarily reflect the views of the De Nederlandsche Bank, the European System of
Central Banks, or their Boards.
References
Brealey, Richard and EC Kaplanis (1996) “The Determination of Foreign Banking
Location,” Journal of International Money and Finance 15: 577–597.
Claessens, Stijn and Neeltje van Horen (2011) “Trends in Foreign Banking: A Database
on Bilateral Foreign Bank Ownership”, mimeo, International Monetary Fund and De
Nederlandsche Bank.
De Haas, Ralph and Neeltje van Horen (2011) “Running for the Exit: International
Banks and Crisis Transmission”, DNB Working Paper No. 279.
Focarelli, Dario and Alberto F Pozzolo (2005) “Where do Banks Expand Abroad? An
Empirical Analysis”, Journal of Business 78: 2435–2463.
Galindo, Arturo, Alejandro Micco, and César Serra (2003) “Better the Devil That You
Know: Evidence on Entry Costs Faced by Foreign Banks”, Inter-American Development
Bank Working Paper No. 477.
Grosse, Robert and Lawrence Goldberg (1991) “Foreign Bank Activity in the United
States: An Analysis by Country of Origin”, Journal of Banking and Finance 15: 1092–
1112.
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