Information or Regulation: What Drives the International Activities of Commercial Banks?
利用商业银行双边资产和负债的面板数据，实证分析信息成本和监管壁垒对银行国际资产选择的影响，并分离出欧盟内部的金融联系。
Information costs and regulatory barriers distinguish international financial markets from national ones. Using panel data on bilateral assets and liabilities of commercial banks, I empirically determine the impact of information, costs and regulations, and I isolate intra-EU financial linkages. I confirm that information costs and regulations are important factors influencing international asset choices of banks, but their relative importance differs among countries.