Banks’ Foreign Claims in the Aftermath of the 2008 Crisis: Institutional Response, Financial Efficiency, and Integration of Cross-Border Banking in the Euro Area

Warin, Thierry; Stojkov, Aleksandar

doi:10.3390/jrfm14020061

Submit to this Journal Review for this Journal Edit a Special Issue

Article Menu

...

Open AccessArticle

Banks’ Foreign Claims in the Aftermath of the 2008 Crisis: Institutional Response, Financial Efficiency, and Integration of Cross-Border Banking in the Euro Area

Thierry Warin

and

Aleksandar Stojkov

^2,*

HEC Montréal, Montréal, QC H3T 2A7, Canada

Iustinianus Primus Law Faculty, Ss. Cyril and Methodius University in Skopje, Blvd. Goce Delchev 9b, 1000 Skopje, North Macedonia

Author to whom correspondence should be addressed.

Academic Editor: Victor Dragotă

J. Risk Financial Manag. 2021, 14(2), 61; https://doi.org/10.3390/jrfm14020061

Received: 9 January 2021 / Revised: 28 January 2021 / Accepted: 29 January 2021 / Published: 2 February 2021

(This article belongs to the Special Issue European Financial Market Efficiency: Investors' Behaviour, Efficient Market Hypothesis and Behavioural Finance)

View Full-Text Download PDF

Browse Figure

Citation Export

Abstract

Beyond financial stability as the European Banking Union’s primary objective, the European capital market integration provides an impetus for deepening bank integration and greater financial market efficiency. This article proposes an empirical framework to assess the dynamics of euro area banks’ business networking. We use banks’ foreign claims across Europe, particularly the euro area, to see how banks react to various macroeconomic signals. Banks’ foreign claims are particularly interesting due to their sensitivity. One of the main conclusions is that the euro area has seen a reallocation of capital in the aftermath of the 2008 crisis. The financial picture of Europe is different after the recent financial crisis. Although we observe a re-concentration of capital from the periphery to the core countries, we also observe some signs of recovered confidence within the European banking framework for macro-prudential reasons. View Full-Text

Keywords: capital flows; banking industry; financial regulation

▼ Show Figures

Figure 1

This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Share and Cite

MDPI and ACS Style

Warin, T.; Stojkov, A. Banks’ Foreign Claims in the Aftermath of the 2008 Crisis: Institutional Response, Financial Efficiency, and Integration of Cross-Border Banking in the Euro Area. J. Risk Financial Manag. 2021, 14, 61. https://doi.org/10.3390/jrfm14020061

AMA Style

Warin T, Stojkov A. Banks’ Foreign Claims in the Aftermath of the 2008 Crisis: Institutional Response, Financial Efficiency, and Integration of Cross-Border Banking in the Euro Area. Journal of Risk and Financial Management. 2021; 14(2):61. https://doi.org/10.3390/jrfm14020061

Chicago/Turabian Style

Warin, Thierry, and Aleksandar Stojkov. 2021. "Banks’ Foreign Claims in the Aftermath of the 2008 Crisis: Institutional Response, Financial Efficiency, and Integration of Cross-Border Banking in the Euro Area" Journal of Risk and Financial Management 14, no. 2: 61. https://doi.org/10.3390/jrfm14020061

Find Other Styles

Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Metrics

Abstract views Pdf views Html views

Article Menu

Banks’ Foreign Claims in the Aftermath of the 2008 Crisis: Institutional Response, Financial Efficiency, and Integration of Cross-Border Banking in the Euro Area

Abstract

Share and Cite

Article Metrics

Article Access Statistics

Article Access Map by Country/Region

Further Information

Guidelines

MDPI Initiatives

Follow MDPI