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| Author: | Akhigbe, A. Frye, M.B. Whyte, A.M. |
| Title: | Financial modernization in US banking markets: A local or global event? |
| Journal: | Journal of Business Finance and Accounting
2005 : SEP/OCT, VOL 32:7-8, p. 1561-1585 |
| Index terms: | Finance Banking Markets USA |
| Language: | eng |
| Abstract: | This study tests the hypothesis that the passage of the 1999 Financial Services Modernization Act (FSMA) has spill-over effects cross-nationally, using a sample of U.S., non-U.S. transactional (Australian, Canadian, and UK), and relationship (German, Japanese, Dutch, and Swiss) banks. The results suggest among others that financial modernization in the U.S. has limited cross-national effects. There is strong evidence found showing that U.S. banks were affected favourably. |
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