碩士 / 中原大學 / 企業管理研究所 / 95 / Offshore financial center, so called Offshore banking Unit (OBU), dealt with international financial activities, and located in a country, a region or a city with lower-taxed and less restrictions to attract nonresident financial business. The conveniences of OBU could attract international capital transactions for both demanders and suppliers. There are many factors would affect the development of OBU, including macroeconomic factors, invest environment and domestic financial system. Therefore, this study adopts OBU asset (and liability) as dependent variable, and include GDP Growth Rate, Import/GDP, Financial Deepening, Lending-Deposit Rate Difference, Banking Sector Fragility (BSF), M2/Reserve, M2 Multiplier, Real Exchange Rate and Asian Financial Crisis (a dummy) as independent variables, the author use SUR (Seemingly Unrelated Regression) model to examine the OBU of Taiwan, Singapore, Hong Kong, Japan, Malaysia and Thailand. Furthermore, This study introduces SUR model to examine the differences of the asset and liabilities of OBU. At same time, this paper uses bank competition (H-statistic) to separate both monopolistic competition (H1) and perfect competition (H2) from six OBUs.
The empirical results of this study showed the main factors are Import/GDP, Financial Deepening, Lending-Deposit Rate Difference, BSF, M2 Multiplier and Real Exchange Rate. By testing SUR model, the author found that the restricted function was applicable to all six OBUs. Therefore, if regional crisis occurred, the spillover effect could be more easily avoided by a country having more restriction on OBU’s loans. For instance, Thailand and Malaysia have a loosely expansionary financial system leading the crisis occurrence. Therefore, expansionary financial system could attract more foreign banks to set up branches, but there will be a negative impact if a weakly financial system existed.
Therefore, a sound financial system is more important than macroeconomic fundamentals and trade linkages. To improve implementation of OBU, one shall consider that the problem of expansionary credit and excessive dependence on foreign funds. When problems happened in financial system, OBU lending channel could indirectly affect domestic financial system and spillover to other economies.
| Identifer | oai:union.ndltd.org:TW/095CYCU5121029 |
| Date | January 2007 |
| Creators | Yu-Fen Wang, 王愉雰 |
| Contributors | Jo-Hui Chan, 陳若暉 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 75 |
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