Trade, Investment And Competition in

This book outlines the various influences on the evolution of international banking and analyzes the industry, distinguishing between international trade in banking services and foreign direct investment by banks. Focusing on competitive advantage it compares the leading banks' international business.

Aidan O'Connor is Professor of Strategy and International Business at ESCEM School of Business and Management, France. He has extensive experience in banking and academic experience in several European countries. He obtained his doctorate from the University of Lausanne, Switzerland.

List of Tables

x

List of Figures

xiii

Acknowledgements

xiv

Introduction

1

(2)

Part I The Evolution and Development of International Banking

3

(34)

International Banking in the Pre-Modern and Modern Banking Eras

5

(32)

Developments in northern Italy

5

(1)

Northern Europe

6

(2)

Amsterdam and the onset of modern banking

8

(1)

The United Kingdom emerges as the leading creditor country

9

(3)

France as a competitor creditor country

12

(2)

Germany finances industrial development

14

(1)

Switzerland's internationally active banks and capital exports

14

(1)

European banking systems and national economies in the 19th century

15

(3)

The United States and the shift in economic power and the centre of international finance

18

(3)

Japan's modernisation and internationalisation

21

(2)

International financial centres in the late 19th century and early 20th century

23

(4)

The internationalisation of banks from the 19th century to the mid 20th century

27

(3)

Consortium banks

30

(2)

The onset of contemporary banking

32

(5)

Part II The Characteristics of and Influences on Contemporary International Banking

37

(58)

Contemporary International Banking Markets

39

(31)

International money and capital markets

42

(1)

The euromarkets

43

(4)

The foreign exchange market

47

(3)

Derivative financial products

50

(6)

The gold market in London

56

(2)

Competition between intermediaries

58

(3)

The influence of institutional investors

61

(3)

Capital flows

64

(6)

Regulation, Trade Agreements, Consolidation and Integration in International Banking

70

(25)

Deregulation of financial markets

71

(2)

Capital adequacy

73

(2)

Liberalisation, international trade agreements and international banking

75

(5)

Concentration in domestic banking markets

80

(2)

Cross-border mergers and acquisitions among financial firms

82

(9)

Electronic banking

91

(4)

Part III Internationally Traded Banking Services

95

(54)

Trade Theories and International Banking

97

(20)

Theories of international trade

99

(3)

Theories of international banking

102

(5)

International financial centres

107

(10)

The Scope of International Banking, Business Activities and Markets

117

(32)

International and foreign claims

118

(2)

International and multinational banking

120

(5)

Types of banks

125

(5)

Organisation type of foreign bank offices

130

(4)

Organisation structure and business description of multinational banks

134

(11)

International banking and securities markets

145

(4)

Part IV Competitive Advantage in International Banking

149

(18)

The Leading International Banks

151

(16)

International banking market and product reach

151

(2)

Competitive advantage in services among international banks

153

(14)

Part V The Evolving International Banking Industry

167

(9)

Trends and Strategies of International Banks

169

(7)

Notes

176

(9)

Index

185

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Trade, Investment And Competition in International Banking

Summary

Author Biography

Table of Contents

Supplemental Materials