HOME > 금융연구 > 수록논문
* 이 게시물을 공유하기
제 목 2015년  제29권 제2호 The Influence of Foreign Bank Presence and Its Funding Structur
작성자 관&#... 작성일 2015.06.30 조회수 2717
첨부파일 29-2-04_이은주_박정수(93-130).hwp (1.08 MB)
첨부파일 29-2-04_이은주_박정수(93-130).pdf (2.47 MB)
The Influence of Foreign Bank Presence and Its Funding Structure on Capital Inflows: Evidence from Emerging Economies

Eun-Joo Lee․Jungsoo Park

� Abstract�

This study analyzes the role of foreign banks in stabilizing capital flows. Based on a sample of
81 emerging countries during 1995-2009, we find that the strong presence of multinational bank
subsidiaries is associated with capital inflows at normal times. In times of crisis, we also find that
the relation between capital flows and foreign bank presence importantly depends on subsidiaries'
funding structure. Specifically, we provide the evidence that financial instability should not be attributed
to foreign banks in countries where subsidiaries rely more on local deposit funding. On the contrary,
subsidiaries' cross-border borrowing may exacerbate both the transmission of the systemic shock
and adverse effect of the country-specific shock. The policy implication is that national supervisory
institution should regulate subsidiaries' cross-border borrowing rather than entry.
Keywords : Foreign Bank Presence; Internal Capital Markets; Capital Inflows; Funding
Structure, Financial Stability
JEL Classification Number : E44, F36, G21, G32


제29권 제3호 비물가 요인은 원․달러 환율에 대한 구... 2015.09.30
제29권 제2호 조건부 변동성과 상관관계 전이모델을 이용한... 2015.06.30

04171 서울특별시 마포구 도화4길 82 예당빌딩 4층 TEL: (02)3273-6325, FAX: (02)3273-6366