The Re‐Internationalization of Banking and the Financial System

Abstract

Banking and finance during the past several decades have become “re‐internationalized,” not simply “internationalized.” This becomes clear when we compare the institutional features of banking and finance today with those in the early part of this century, the last period in which both had a substantial international dimension. It is further apparent in historical data that are analyzed in the paper: cross‐country spreads between real interest rates over the long period 1835 to 1990, and figures for gross foreign assets available for a number of major countries at key points in time from 1885 to 1994. The paper concludes by discussing the factors responsible for the changes that have occurred in banking and finance during the past several decades.

Citation

Lothian, J.R. (1997), "The Re‐Internationalization of Banking and the Financial System", Managerial Finance, Vol. 23 No. 2, pp. 25-41. https://doi.org/10.1108/eb018607