Browsing by Subject "ulkomaiset pankit"

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  • Fang, Yiwei; Hasan, Iftekhar; Marton, Katherin (2011)
    Bank of Finland Research Discussion Papers 7/2011
    The policy changes and structural reforms in transition economies over the past two decades have created exogenous variations in institutional development, which offers us an ideal natural experiment to analyse the causal effects of institutions on bank risk-taking behaviour. This paper examines a wide array of institutional reforms in respect of law and legal institutions, banking liberalization, and enterprise restructuring in privatization and corporate governance. Using a difference-in-difference approach, we find that banks financial stability has increased substantially subsequent to the institutional reforms. Further analysis suggests that the enhancement of financial stability mostly comes from the reduction of asset risk. Moreover, the effects of institutional reforms on bank risk are more pronounced for domestic banks than foreign banks. From the policy consideration, our study sheds light on the risk implications of different institutional reforms that have been characterizing transition countries.
  • Havrylchyk, Olena; Jurzyk, Emilia (2006)
    BOFIT Discussion Papers 5/2006
    Published in Economics of Transition, Volume 19, Issue 3, July 2011, Pages 443-472
    Using data for 265 banks in Central and Eastern European Countries for the period of 1995-2003, this paper analyses the differences in profitability between domestic and foreign banks.We show that foreign banks, especially greenfield institutions, earn higher profits than domestic banks.However, this effect is acquired rather than inherited, since there is evidence that foreign banks tend to take over less profitable institutions.Profits of foreign banks in CEECs also exceed profits of their parent banks, explaining the reasons for their entry.Further, we study benefits and costs of foreign ownership by analyzing determinants of profitability for domestic, takeover, and greenfield banks.Profits of foreign banks are less affected by macroeconomic conditions in their host countries.However, greenfield banks are sensitive to the situation of their parent banks.Only domestic banks enjoy higher profits in more concentrated banking markets, whereas takeover banks suffer from diseconomies of scale due to the fact that they acquired large institutions. JEL classification: G15, G21, F36 Keywords: foreign banks, bank profits, multinational banking, transition economies
  • Kaaresvirta, Juuso (2009)
    Bofit. Focus/Opinion. Expert view 8/2009
  • Egorov, Alexey; Kovalenko, Olga (2013)
    BOFIT Discussion Papers 23/2013
    Russian banks exhibit a range of behaviors that have led to distinct segmentation within the interbank lending market. This paper provides an overview of the core groups of banks operating in the market (state banks, private banks, and foreign-owned banks), as well as a discussion of their assets and liability structures. The 2007-2010 financial crisis had considerable impact on the Russian financial sector. As conditions deteriorated and recovered in global money markets, Russian banks adjusted their behavior with respect to other domestic banks and foreign banks. We conduct a comparative analysis of the Russian inter-bank lending market structure in the pre-crisis period and during recovery to reveal the tactical shifts in the various bank groups. JEL: C22, E43, E44 Keywords: interbank markets, Russia, interest rates
  • Koivu, Tuuli; Korhonen, Iikka (2001)
    BOFIT Online 2001/2
    Baltian maat ovat toipuneet nopeasti vuoden 1998 Venäjän talouskriisin seurauksista.Viime vuonna maiden talouskasvu oli ripeää.Talouskasvun taustalla oli nopeasti kasvanut vienti, joka suurelta osin suuntautui EU-maihin.Talouden elpyminen kavensi myös julkisen sektorin alijäämää viime vuonna selvästi kaikissa Baltian maissa.Inflaatio on pysynyt viime vuodet melko matalana.Viron inflaatiovauhti on kuitenkin viime kuukausina kiihtynyt tuontihintojen nousun ja kotimaisen kysynnän kasvun seurauksena. Viime vuonna pankkien luotonanto kasvoi nopeasti Virossa ja Latviassa.Kaikki Baltian maat tavoittelevat pikaista EU-jäsenyyttä ja ne ovatkin toteuttaneet jäsenyyden vaatimia uudistuksia kiitettävällä vauhdilla.Kuluvana vuonna päänvaivaa maiden hallituksille tuottavat erityisesti jäljellä olevat, vaikeat yksityistämishankkeet sekä korkeana pysyttelevä työttömyys. Asiasanat: Viro, Latvia, Liettua, talouskehitys, talouspolitiikka, ulkomaankauppa, EU
  • Havrylchyk, Olena (2011)
    BOFIT Discussion Papers 11/2011
    Published in Journal of Banking and Finance, Volume 36, Issue 6, June 2012, Pages 1710-1721.
    This study investigates the impact of foreign bank penetration on firm entry in Central and Eastern Europe. Acquisition of domestic banks by foreign investors has lowered rates of firm creation, decreased the average size of entrants, and increased firm exit in industries with greater informational opacity, while entry of greenfield foreign banks appears to have spurred firm creation and exit. We modify the view in earlier studies that informational opacity equates with firm size, defining opacity in terms of technological characteristics for a given industry. We find the economic significance of foreign bank entry is larger for opaque industries than industries with large shares of small firms. The study provides evidence of increased credit constraints for start-ups in Central and Eastern Europe, which is consistent with the theoretical proposition that the presence of foreign banks exacerbates informational asymmetries. Keywords: Entrepreneurship, Foreign bank entry, Asymmetric information, Credit constraints JEL: E51, G21, M13
  • Fungáčová, Zuzana; Herrala, Risto; Weill, Laurent (2011)
    BOFIT Discussion Papers 34/2011
    Published in Emerging Markets Review, Volume 15, June 2013, Pages 136-147
    This study examines how bank ownership influenced the credit supply during the recent financial crisis in Russia, where the banking sector consists of a mix of state-controlled banks, foreign-owned banks, and domestic private banks. To estimate credit supply changes, we employ an exhaustive dataset for Russian banks that covers the crisis period and apply an original approach based on stochastic frontier analysis. Our findings suggest bank ownership affected credit supply during the financial crisis and that the crisis led to an overall decrease in the credit supply. Relative to domestic private banks foreign-owned banks reduced their credit supply more and state-controlled banks less. This supports the hypothesis that foreign banks have a "lack of loyalty" to domestic actors during a crisis, as well as the view that an objective function of state-controlled banks leads them to support the economy during economic downturns. JEL: D14, G21 Keywords: bank, credit policy, foreign ownership, state ownership, stochastic frontier analysis
  • Fungáčová, Zuzana; Solanko, Laura (2009)
    Bank of Finland. Bulletin 2
    The current financial crisis is unlikely to dramatically change the structural features of the Russian banking industry. The role of the state in the banking sector will increase rather than decrease after the crisis and the banking sector will continue to be very fragmented. There is a risk that if the large corporations have to turn to the domestic banking sector for finance instead of the international money market, they will crowd out small and medium-sized companies from access to bank finance. This would have a negative impact on economic growth in the long term.
  • Tekoniemi, Merja (1994)