The aim of the article is to clarify the role of foreign banks in some Asian emerging countries and to estimate the consequences on economic and financial development. As a measure, we use local claims, and loans activities, of foreign banks’ subsidiaries and branches on the host emerging countries, since 1994. First, we are interested in the foreign banks’ strategies (local or cross-border activities) and in the major creditors that are, on the recent period, US and UK banks. Then, we highlight that foreign banks, in stress period, develop the local activities of their subsidiaries, particularly in local currency, that are benefic for the local banking market. When local claims are important, foreign claims are less volatile, so economic development is improving, and local banking system is more efficient, particularly in Malaysia. The results are quite the same as in the literature on Latin American and Eastern European emerging countries. Nevertheless, the 2007-08 crisis, that affects roughly foreign banks, may weaken subsidiaries and destabilize the local banking system, so the economic development of emerging countries.

(2009). Les banques étrangères en Asie du Sud-Est: le rôle des local claims [journal article - articolo]. In SAVINGS AND DEVELOPMENT. Retrieved from http://hdl.handle.net/10446/27445

Les banques étrangères en Asie du Sud-Est: le rôle des local claims

2009-01-01

Abstract

The aim of the article is to clarify the role of foreign banks in some Asian emerging countries and to estimate the consequences on economic and financial development. As a measure, we use local claims, and loans activities, of foreign banks’ subsidiaries and branches on the host emerging countries, since 1994. First, we are interested in the foreign banks’ strategies (local or cross-border activities) and in the major creditors that are, on the recent period, US and UK banks. Then, we highlight that foreign banks, in stress period, develop the local activities of their subsidiaries, particularly in local currency, that are benefic for the local banking market. When local claims are important, foreign claims are less volatile, so economic development is improving, and local banking system is more efficient, particularly in Malaysia. The results are quite the same as in the literature on Latin American and Eastern European emerging countries. Nevertheless, the 2007-08 crisis, that affects roughly foreign banks, may weaken subsidiaries and destabilize the local banking system, so the economic development of emerging countries.
articolo
2009
L’objectif de l’article est d’étudier la présence des banques étrangères et leur impact sur le développement économique et financier de cinq pays asiatiques. Pour cela, nous appréhendons cette présence par les local claims, c’est-à-dire, les créances locales, notamment les activités de crédit auprès des agents locaux, de leurs filiales ou succursales implantées dans ces pays émergents, de 1994 à nos jours. Nous établissons, tout d’abord, la stratégie développée par les banques étrangères (implantations ou activités transfrontières cross-border) et l’identité des créanciers majoritaires: américains et britanniques et non plus japonais. Puis, nous montrons que les local claims résistent plutôt aux chocs économiques et financiers et que leur développement est bénéfique aux pays émergents, notamment les créances en monnaie locale: développement économique et financier, stabilité des financements extérieurs, assainissement du système bancaire local (rentabilité, risque, liquidité), notamment en Malaisie. En ces points, nous rejoignons les résultats que la littérature a obtenus à ce sujet sur les PECO et les pays d’Amérique latine. Néanmoins, la crise financière de 2007-2008 rappelle qu’une maison-mère en difficulté peut fragiliser sa filiale et perturber le fonctionnement du système bancaire local, donc le développement économique du pays émergent.
Lahet, Delphine
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