At Last the Internationalization of Retail Banking? The Case of the Spanish Banks in Latin America

Working Paper No. 99-41

38 Pages Posted: 14 Dec 1999

See all articles by Mauro F. Guillen

Mauro F. Guillen

University of Pennsylvania - Management Department

Adrian E. Tschoegl

University of Pennsylvania - Management Department

Date Written: September 1999

Abstract

Since 1995 two Spanish banks -- Banco Santander Central Hispano and Banco Bilbao Vizcaya -- have become the largest foreign banks in retail banking in Latin America. This recent development merits careful analysis because foreign direct investment is rare in retail banking. We find that the Spanish banks are exhibiting asset-seeking, asset-exploiting, and oligopolistic behaviors, thus posing no serious challenge to established theories of foreign investment. We discuss the implications for research on cross-border banking.

JEL Classification: G21

Suggested Citation

Guillen, Mauro Federico and Tschoegl, Adrian E., At Last the Internationalization of Retail Banking? The Case of the Spanish Banks in Latin America (September 1999). Working Paper No. 99-41. Available at SSRN: https://ssrn.com/abstract=184874 or http://dx.doi.org/10.2139/ssrn.184874

Mauro Federico Guillen (Contact Author)

University of Pennsylvania - Management Department ( email )

The Wharton School
Philadelphia, PA 19104-6370
United States
215-573-6267 (Phone)
215-326-3205 (Fax)

Adrian E. Tschoegl

University of Pennsylvania - Management Department ( email )

The Wharton School
Philadelphia, PA 19104-6370
United States

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