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Banking integration in the EMU: Let’s get real!


Hoffmann, Mathias; Maslov, Egor; Sørensen, Bent (2019). Banking integration in the EMU: Let’s get real! : VoxEU, CEPR Policy Portal.

Abstract

Bank-to-bank lending in the euro area has increased, direct cross-border lending has not. The column shows that dependence on domestic banks reduces risk-sharing in a crisis, reducing GDP growth in affected country-sectors. Benefits from banking integration are only robust to global shocks if banking integration takes the form of cross-border lending to firms and households.

Abstract

Bank-to-bank lending in the euro area has increased, direct cross-border lending has not. The column shows that dependence on domestic banks reduces risk-sharing in a crisis, reducing GDP growth in affected country-sectors. Benefits from banking integration are only robust to global shocks if banking integration takes the form of cross-border lending to firms and households.

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Additional indexing

Item Type:Scientific Publication in Electronic Form
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Uncontrolled Keywords:Risk, risk sharing, euro area, global crisis, banking integration, EU policies, international finance
Language:English
Date:10 January 2019
Deposited On:02 Jul 2019 08:31
Last Modified:12 Feb 2020 13:05
Publisher:VoxEU, CEPR Policy Portal
OA Status:Green
Free access at:Official URL. An embargo period may apply.
Official URL:https://voxeu.org/article/banking-integration-emu-let-s-get-real

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