Banksí Internationalization: Estonian and Russian Banksí Expansion to the Foreign Markets

Jari Jumpponen (), Kari Liuhto (), Mart Sırg () and Vello Vensel
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Jari Jumpponen: Department of Industrial Engineering and Management, Lappeenranta University of Technology
Kari Liuhto: Pan-European Institute at Turku School of Economics and Business Administration
Mart Sırg: Institute of Finance and Accounting at the University of Tartu
Vello Vensel: Department of Economics at Tallinn University of Technology

No 109, Working Papers from Tallinn School of Economics and Business Administration, Tallinn University of Technology

Abstract: Direct investment outflow from transition economies abroad is still modest compared to investment inflow towards transition economies. Global economy both creates preconditions for and also motivates the internatio¨nalization of banks. The main aim of the article is to study activities of Estonian and Russian commercial banks in their efforts to transform themselves from local banks to international ones. As the internationalization of banks has not proceeded without problems and setbacks, the present research tries to point out the reasons why some of the plans were not realized. The authors of the paper argue that international economic ties provide benefits to all the parties involved and that international integration is an effective way of building international stability and economic growth.

Keywords: banking sector reforms; banks internationalization and globalization; Estonian and Russian banks expansion abroad. (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Pages: 24
Date: 2004
Note: The authors gratefully acknowledge the financial support received from the Research Foundation of the OKO Bank Group, from Gˆran Collert Foundation, and from the Estonian Science Foundation (Project 5185).
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Published in Working Papers in Economics.School of Economics and Business Administration,Tallinn University of Technology (TUTWPE), Pages 79-102

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