Foreign Bank Lending in the U.S. During Three U.S. Recessions
| Autor: | Sunil K. Mohanty, Rama Seth, Anoop Rai |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
040101 forestry
Economics and Econometrics 050208 finance Foreign ownership media_common.quotation_subject 05 social sciences Subsidiary Bank regulation 04 agricultural and veterinary sciences Monetary economics Recession Foreign banks 0502 economics and business Unemployment Economics Countercyclical lending 0401 agriculture forestry and fisheries Finance media_common |
| Zdroj: | Global Finance Journal. 48 |
| ISSN: | 1873-5665 1044-0283 |
| Popis: | We study whether foreign banks engaged in countercyclical lending in the United States during the 1990–1991, 2001, and 2007–2009 recessions. Aggregate lending by foreign banks increased in the 1990–91 recession and by domestic banks in the 2001 recession. Controlling for local GDP and unemployment, we show countercyclical lending by foreign branches in the 1990 recession and by foreign subsidiaries in the 2001 recession. In the 2008 recession, foreign branches and subsidiaries exhibited neither countercyclical nor procyclical lending. We conclude that foreign banks like domestic banks respond to local economic conditions; the foreign ownership is not a factor. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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