China’s banking market is one of the most attractive investment targets for financial institutionsworldwide especially since the opening up of the market in December 2006. Based oninterviews with experts this paper analyses the question of benefits and risks of foreign directinvestments into...

The paper analyzes if and how the experiences of European integration can be used for theprogress of East Asia integration especially of the ASEAN+3 countries1. Of special interest isthe relevance of the new endogeneity approach of monetary integration for East Asia. Thequestion is discussed in...

The purpose of this study is to focus on two leading industrialized nations - theU.S. and Germany - analyze the differences in the recent trends in their respectivebanking sectors and see if indeed the banking industries in these two leadingeconomies are gravitating towards a homogeneous global...

Eine kapitalgedeckte Altersvorsorge wirkt positiv auf die Entwicklung der Kapitalmärkte.Das stetige und kräftige Wirtschaftswachstum der 90er Jahre in den USAist sicherlich auch Ergebnis der zunehmenden Bedeutung von Pensionfonds. DieKonzentration von Geldern und deren Anlage an den...

Die NE hat vielfältige ökonomische Dimensionen. Die wichtigsten sind die Überwindungdes Konjunkturzyklus, die Dynamisierung und Vernetzung der Aktienmärktemit der Realwirtschaft, der Strukturwandel zur Informations- und Wissensökonomie,schließlich die zunehmende Bedeutung von...

Monetary policies of the ECB and US Fed can be characterised by “Taylor rules”, that is bothcentral banks seem to be setting rates by taking into account the “output gap” and inflation.We also set up and tested Taylor rules which incorporate money growth and the euro-dollarexchange rate,...

The aim of this note is to provide an overview of various measures of “excess liquidity”,which can be defined as the deviation of the actual stock of money from an estimated equilibriumlevel. Given their dynamic nature, the excess liquidity measures under review are - in thelight of long and...

The rate of growth in bank loans to private households and firms in Germany hasdeclined substantially since early 2000 and currently stands at virtually zero. In thisarticle, we analyse whether cyclical factors (“demand-side driven”) or banks’ unwillingnessand/or inability to lend...

This paper studies the effects that heterogeneous multiple bank financing hason a firm’s risk- and information-policy, particularly with respect to credit rene-gotiation efficiency. We find that a significant, yet limited, degree of relationshiplending enables firms with high asset specificity...