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2017 | OriginalPaper | Buchkapitel

4. The Global Financial Crisis and Banks in BRIC Countries: A Comparative Perspective

verfasst von : Chunxia Jiang, Shujie Yao

Erschienen in: Chinese Banking Reform

Verlag: Springer International Publishing

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Abstract

Banks are the cornerstone of the financial system, especially in developing countries where capital markets are underdeveloped. The global financial crisis in 2007–2008 caused great turmoil in the banking sectors of the developed world with the clustered collapses of international financial giants in the advanced economies. However, there have been fewer bank failures in transitional and emerging economies and it is important to understand the role of the banking sector in developing countries and transitional and emerging economies. This chapter takes a comparative approach and puts Chinese banking into the context of the emerging economies. The importance of the banking systems in Brazil, Russia, India, China, and South Africa (hereinafter the BRIC refers to Brazil Russia, India, and China and the BRICS includes South Africa) has been rising in the global banking marketplace, noticeably witnessed by the launch of the New Development Bank in 2015. Moreover, BRICS’ banking sectors have withstood the storm wave of the 2008–2009 global financial crisis without major bank failures. This chapter, in particular, examines the impact of bank risk-taking and market concentration on bank performance from the perspective of emerging economies. The rest of this chapter unfolds as follows. Section 4.1 reviews related literature on developing countries and transitional and emerging economies. Section 4.2 introduces the economies and the evolutionary background of the banking systems in BRICS. Section 4.3 outlines the research methodology—the output distance function approach—and describes data. Section 4.4 discusses empirical results, and Sect. 4.5 concludes.
Fußnoten
1
Data are from World Bank. Annual percentage growth rate of GDP is at market prices based on constant local currency.
 
2
The “pocket banks” were controlled by a single shareholder or a small group of related shareholders and they were used as a tool of business groupings or state institutions (Tompson 2004).
 
3
Rising oil prices were caused by the first Gulf War in 1990–1991.
 
4
Simultaneous equation bias may exist when both inputs and outputs are included in the distance function as regressors. But after the normalization procedure, output ratios may be treated as exogenous (Coelli and Perelman 1996).
 
5
Table 4.2 only reports scale elasticities and full results are available from the authors upon request.
 
6
For instance, the spreads increased by 2.45 percentage points in Brazil and 1.58 percentage points in Russia.
 
7
More than 75% of BRIC banks’ total earning assets are loans and this study employs the NPL coverage ratio as the proxy for overall risk.
 
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Metadaten
Titel
The Global Financial Crisis and Banks in BRIC Countries: A Comparative Perspective
verfasst von
Chunxia Jiang
Shujie Yao
Copyright-Jahr
2017
DOI
https://doi.org/10.1007/978-3-319-63925-3_4

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