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Annual Review of Financial Economics

Volume 12, 2020

Global Banking: Toward an Assessment of Benefits and Costs

Abstract

Global activities of banks are a core manifestation of broader patterns of globalization of production, trade, and finance. This article reviews the extensive recent empirical and theoretical literature on global banking, emphasizing the careful empirical analyses that incorporate key dimensions of heterogeneity among borrowers and lenders, and across activities. The actions of globally active banks are consequential, with cost and benefit trade-offs that differ during their lifetimes and at times of stress. Both research and policymaking around global banking benefit from improved infrastructures around collection of and access to granular data and repositories of evaluation studies. Although overall positive contributions from welfare perspectives arise from the activities of global banks, these organizations require appropriately targeted policy frameworks and oversight.

Keyword(s): global banks, global financial cycle, international capital flow, international shock transmission, JEL F2, JEL F3, JEL F4, JEL G21
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2020-11-01
2024-04-25
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Global Banking: Toward an Assessment of Benefits and Costs
Annual Review of Financial Economics 12, 141 (2020); https://doi.org/10.1146/annurev-financial-021920-112021
/content/journals/10.1146/annurev-financial-021920-112021
/content/journals/10.1146/annurev-financial-021920-112021
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